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Advanced TA SearchArchive
- 5/17/2024 -
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Baker Hugh (BKR) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second consecutive positive week for the Baker Hugh (BKR). During the week, the BKR gained 1.12 points, or 3.46%, and closed at 33.46 on Friday, May 17, 2024. It was the best weekly gain since March 15, 2024. Weekly volume was -18% 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 55.51% 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 price is now at the 18.41% retracement level.
 Weekly Technical Indicators: [See BKR weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 15, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See BKR short-term trend chart]
A short-term downtrend had started on April 5, 2024 at 34.62 and reached 31.56 on May 3, 2024. BKR lost 3.06 points, or 8.84%, in 28 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (31.20) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. BKR may retest the broken resistance line. It is considered to be a support line now. 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 short-term trend.
 Daily Technical Indicators: [See BKR daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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