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Hawk’s Nest

Call Buyers Active in Energy Tech Name Trending Higher

by | Nov 7, 2022

Baker Hughes (BKR) strong 5% move today and seeing 3700 Dec $32 calls bought $1.15 as the stock clears YTD VWAP resistance at 29.50 and looks to continue is strong recent run higher since breaking above 200 EMA at 27. A bit extended at current levels but ideally can form a bull flag from here or retest 8 EMA and give an entry long into the trend. BKR has open space up to 35-37 in the short term where the June highs sit and weekly MACD recently had a bullish crossover.