| Baker Hughes (BHI),
a major oil services company, is down 29.72 percent from its all-time
closing high of $98.33 set on November 16, 2007. The price pattern
of the stock shows a head and shoulders top with its current price
of $69.11 near a key support level.
If the price of oil were to decline, BHI would continue its downside
direction.
Related Articles:
Portfolio of Oil
and Gas Drilling Stocks
Portfolio of Oil
Service and Drilling Stocks
Price Patterns
- Head and Shoulders Top Is a Complex Pattern
Price Patterns
- Support Levels May Constrain Price Downsides
Posted March 28, 2007.
|
