Baker Hughes Co

BKR remains in a clear Stage 4 decline within its broader secular uptrend. The persistent lower-high/lower-low price structure below down-sloping EMAs and moving averages establishes a bearish medium-term bias. Short-term oversold and relief bounce conditions suggest waiting for a rally into the 9 and 21 EMAs and the 200-day SMA for optimal sell execution. We recommend Trim (deferred sell) into these resistance zones.

• ↑Record $4.9B IET orders in Q1 boosts backlog to $33.1B.
• ↑Adjusted EBITDA $1.16B (+12% YoY) exceeds guidance; margin up 140 bp to 17.6%.
• ↓Regional disruptions could slash Middle East revenues by >20% in Q2.