APRIL SALE: Save over 60% on our Pro Plans!

BHGE unable to break through key resistance level

Technical Analysis Report for BHGE - Apr 16, 2018 [1 min read]
BHGE closes above its opening price after recovering from early selling pressure
BHGE unable to break through key resistance level
BHGE finds support at 200-day moving average
BHGE closes higher for the 5th day in a row
BHGE ends the day on a bullish note closing near the high of the day
TQ Sentiment
Technical Forecast:

Moving higher for the 5th day in a row, BHGE finished Monday at 32.84 gaining $0.27 (0.83%) on low volume. Today's closing price of 32.84 marks the highest close since January 24th. Trading up to $0.61 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for BHGE

Monday's trading range was $0.95 (2.92%), that's slightly below last trading month's daily average range of $1.12. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being above average.


Unable to break through the key technical resistance level at 32.89, the stock closed below it after spiking as high as 32.93 during the day. The failure to close above the resistance could increase that levels importance as resistance going forward. After having been unable to move lower than 31.87 in the prior session, Baker Hughes, found buyers again around the same price level today at 31.98. After trading as low as 31.98 during the day, the market found support at the 200-day moving average at 32.44.


The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.


While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Report Market Conditions
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Bounce off SMA 200 TQ Pro Members Only
Low close to previous low TQ Pro Members Only
5 Consecutive Higher Closes TQ Pro Members Only
Bullish Intraday Reversal TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Latest Report:

BHGE closes within prior day's range

Apr 24, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Baker Hughes, a GE Company traded like this in the past. See the odds for each technical pattern with expected gain and loss.


Stocks Top Movers

ETHUSD 706.3763.66 9.90%
BTCUSD 9,656.35704.38 7.87%
NATGAS 2.8110.032 1.15%
GOLD 1,332.25.6 0.42%
GBPUSD 1.39770.0039 0.28%
DXY 90.540-0.165 -0.18%
NKY 22,215.32-62.80 -0.28%
TBOND 142.344-0.594 -0.42%
FTSE 7,379.32-46.08 -0.62%
HSI 30,327.77-308.47 -1.01%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.