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Baker Hughes (BHI) Upgrade Alert, Watch for 5% Technical Downtrend Reversal

Nov 05, 2009 (SmarTrend(R) Spotlight via COMTEX) --

Company: Baker Hughes, Inc. (BHI)

Baker Hughes (NYSE:BHI) upgraded to Buy from Hold at Weeden. The stock closed yesterday at $40.89 on volume of 12,559,600 shares, above average daily volume of 6,263,826.

Baker Hughes is currently below its 50-day moving average of $41.68 and should find support at its 200-day moving average of $36.62.

SmarTrend is bearish on shares of BHI and our subscribers received a Downtrend alert on October 28, 2009 at $43.03, which has returned 5% to date.

Write to Chip Brian at cbrian@tradethetrend.com

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News Provided by COMTEX

Company: Baker Hughes, Inc. (BHI)


Related terms: market, nyse, securities

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