Don't Ignore This Chart!

Baker Hughes Breaks Key Line on Intraday P&F Chart

 | 

Baker Hughes (BHI) perked up over the last few weeks by establishing support in the lows 50s and triggering three bullish P&F signals. First, notice that the stock forged a Triple Top Breakout at 53.7. Second, BHI triggered a bullish Catapult with a move above 54. Third, the stock broke above the Bearish Resistance Line (red trend line).

131230bhi
Click this image for a live chart

Arthur Hill
About the author: , CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus