A price action above 33.00 supports a bullish trend direction.
Further bullish confirmation for a break above 34.00.
The target price is set at 35.00 (ts full retracement level).
The stop-loss price is set at 32.00.
Testing its 200-day simple moving average and crossing above and remaining above it, will support a bullish trend direction.
This Week FORECAST
Opportunity for BKR. This setup trading idea is for intraday. >> TAYOR
Risk Factors:
1. Market conditions, unexpected news, or external events could impact the trade.
2. Always use risk management strategies to protect your capital.
Oil related equities demonstrate impressive relative strength to the rest of the sectors, occupying 6 out of 10 best performing market groups.
HAL - is one of the best stocks in the energy sector, with impressive consecutive earnings and sales growth 4 qrts in a row and double digits growth in eps estimates.
Beside strong fundamentals, I always look for the...
Entry: with price at or above 36.81
Volume: with volume greater than 5.6M
Target: 39.99 area (this is an area, no guarantee it reaches this price, but you should be selling on the way up)
Stop: Depending on your risk tolerance; Based on an entry of 36.81 & target of 39.99, a stop at 35.75 gets you 3/1 Reward to Risk Ratio.
Resistance: Resistance around...
Took position here Tues after strong open, looking for a push over ATLR. Have DTLR coming in around $37.75. Did not realize at the time earnings was yesterday AM but the reaction was a small gap down that reversed and we got a higher close. Volume picking up as well. Generally like the consolidation and green candles with no tail wicks which suggests while sellers...
The PEAD projected a Bullish outlook for $BKR after a Positive over reaction following its earnings release placing the stock in drift B with an expected accuracy of 50%.
The Baker Hughes Company (BKR) has risen by +9.84% so far from its previous close but technically this post earnings euphoria should be short-lived. The long-term chart of the 1W time-frame speaks by itself.
The stock is being rejected on a Lower Highs trend-line since June 2008. The latest rejection (March 2022) is basically repeating the pattern of July -...
The PEAD projected a Bearish outlook for $BKR after a Negative Under reaction following its earnings release placing the stock in drift D with an expected accuracy of 100%.
If things won't deteriorate ahgain, BKR may recapture its recent highs soon again. This might be a long opportunity imo. Other oil field service stocks seem to recover as well. TDW absolutely killing it today. One may want to wait another day (candle) to make sure price recaptures SMA50 and stays above it until close.
