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Archive
- 5/17/2024 -
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Hess Corporation (HES) Technical Analysis
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| Summary:
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| | It was the negative week for the Hess Corporation (HES). During the week, the HES dropped -2.29 points, or -1.43%, and closed at 158.11 on Friday, May 17, 2024. Weekly volume was -15% below average.
HES is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See HES long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 26.06 and reached 167.75 on October 19, 2023. HES gained -141.69 points, or -543.71%, in 187 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 148.75 and resistance is at 187.34. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See HES medium-term trend chart]
A medium-term downtrend had started on October 19, 2023 at 167.75 and reached 131.70 on December 8, 2023. HES lost 36.05 points, or 21.49%, in 7 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (148.37) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See HES weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since February 16, 2024. Use the following link to access a MACD help.
 Short-term trend: [See HES short-term trend chart]
A short-term uptrend had started on January 18, 2024 at 135.64 and reached 163.98 on April 29, 2024. HES gained -28.34 points, or -20.89%, in 102 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 153.71 and resistance is at 167.96. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See HES daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 2, 2024.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.83%) is close to one year low (5.06%). It is 53.03% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
 Candlestick pattern: [See HES candlestick chart pattern]
On Friday the chart has formed a Bullish Ladder Bottom Candlestick pattern. A Bullish Ladder Bottom pattern occurs in a downtrend, it may signal a trend reversal. The reliability of the Bullish Ladder Bottom pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Ladder Bottom Candlestick pattern during the last week.
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