BAKER HUGHES Don't be fooled by this +10% move today.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 - October 2011. If the price currently gets contained below the 1W MA50 (blue trend-line), then as per the 2011/12 fractal, we should see a new multi-month downtrend towards the 0.786 Fibonacci retracement level and then consider a (slow) recovery back to the Lower Highs trend-line. Notice how even the 1W RSI sequences of the two fractals are identical.
-------------------------------------------------------------------------------
** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. **
-------------------------------------------------------------------------------
You may also TELL ME 🙋♀️🙋♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁
-------------------------------------------------------------------------------
👇 👇 👇 👇 👇 👇
💸💸💸💸💸💸
👇 👇 👇 👇 👇 👇
