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Watch for Baker Hughes to Potentially Rebound After Falling 2.52% Yesterday

By Nick Russo

Baker Hughes (NYSE:BHI) traded in a range yesterday that spanned from a low of $57.88 to a high of $59.61. Yesterday, the shares fell 2.5%, which took the trading range below the 3-day low of $59.09 on volume of 1.7 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Baker Hughes has traded in a range of $37.58 to $70.45 and is now at $58.01, 54% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.6% while the 200-day MA has slid 0.6%.

SmarTrend is tracking the current trend status for Baker Hughes and will alert subscribers who have BHI in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Baker Hughes

Ticker(s): BHI