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Bearish Outlook for Baker Hughes Inc. (NYSE: BHI)

|Includes:Baker Hughes Inc. (BHI)

December 13, 2011

Shares of Baker Hughes Inc. (NYSE: BHI) broke below a short term support level and are expected to reach lower lows in coming days.

On Monday, December 12, BHI closed below the November 25 closing correction low at $48.87.

The expectation is for a test of the October 4 lows in coming weeks.

We would recommend a short position for BHI with a buy stop around $50.20 a share.

If BHI reaches $43.00 intra-day in coming weeks we would likely take profits. does not currently have a position in Baker Hughes.

Stocks: BHI