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Archive
- 4/5/2024 -
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Baker Hugh (BKR) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a ninth positive week after 5 consecutive negative weeks for the Baker Hugh (BKR). During the week, the BKR gained 0.81 points, or 2.42%, and closed at 34.31 on Friday, April 5, 2024. Weekly volume was -11% below average.
BKR is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See BKR long-term trend chart]
A long-term downtrend had started on September 5, 2023 at 37.58 and reached 28.32 on February 5, 2024. BKR lost 9.26 points, or 24.64%, in 21 weeks. The price is now at the 64.69% retracement level.
 Medium-term trend: [See BKR medium-term trend chart]
A medium-term uptrend had started on February 5, 2024 at 28.32 and reached 34.62 on April 5, 2024. BKR gained -6.30 points, or -22.25%, in 8 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (31.58) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See BKR weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 15, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See BKR short-term trend chart]
A short-term uptrend had started on February 14, 2024 at 28.63 and reached 34.62 on April 5, 2024. BKR gained -5.99 points, or -20.92%, in 51 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 33.54 and resistance is at 36.10. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See BKR daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
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