Baker Hughes Inc

AAA

For today's chart we've chosen to take a look at Baker Hughes Inc (NYSE:BHI) because it is nearing the neckline of a broken head and shoulders pattern. As you can see from the chart below, the bears are in control of the stock's momentum and we'd expect this story to continue until the price moves above the nearby trendline.

We've also noticed that the 50-day exponential moving average has crossed below the 200-day exponential moving average, which is often used by active traders to trigger a long-term sell signal. Many bearish traders will likely set their stop-loss orders above the neckline and will watch for a move toward their target of the March low ($64).





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