Baker Hughes saw a positive improvement to its Relative Strength (RS) Rating on Thursday, rising from 79 to 82.
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This unique rating measures technical performance by showing how a stock's price movement over the last 52 weeks measures up against that of other stocks on the major indexes.
Decades of market research shows that the market's biggest winners tend to have an RS Rating of at least 80 in the early stages of their moves.
Baker Hughes is in a buy zone after moving past a 46.72 entry in a cup with handle. Once a stock moves 5% or higher beyond the original entry, it's considered extended and out of buy range.
Baker Hughes reported 11% EPS growth last quarter. Revenue increased -3%.
The company holds the No. 5 rank among its peers in the Oil & Gas-Machinery/Equipment industry group. Enerflex is the No. 1-ranked stock within the group.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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