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Advanced TA SearchArchive
- 5/10/2024 -
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Baker Hugh (BKR) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Baker Hugh (BKR). During the week, the BKR gained 0.42 points, or 1.32%, and closed at 32.34 on Friday, May 10, 2024. Weekly volume was -31% 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 43.41% 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. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance 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 trend support level is at 31.38 and resistance is at 33.00. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.
Daily Technical Indicators: [See BKR daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 9, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.
 Candlestick pattern: [See BKR candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.
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