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Monthly Pattern:Rising Wedge
Number of records: 6
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Chart Analysis and Chart Pattern Recognition – Rising Wedge Pattern.
A rising wage pattern is a triangle formation with noticeable slant to the upside. It represents the loss of the upside momentum on each successive high and has a bearish bias. Rising wedges pattern usually marks a reversal in an uptrend. In a downtrend, the rising wedge is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Rising Wedge Screening page presents a list of stocks forming Rising Wedge Pattern.
Tips:
# 1
The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, this chart pattern should be considered together with other technical analysis signals and technical trading techniques.
Rising Wedge Pattern,Rising Wedge,Rising Wedge Chart Pattern,Stock Charting, chart pattern, charts, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Hess Corporation
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Summary:
Weekly :Overbought sectorOverbought industryWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
Move cursor over the icon to see details.

It was a second consecutive positive week for the Hess Corporation (HES). During the week, the HES gained 4.01 points, or 6.83%, and closed at 62.72 on Friday, May 11, 2018. Weekly volume was 16% above average.

HES is a member of Basic Materials Sector. Basic Materials is the most overbought sector. HES is a member of Oil & Gas Refining/Mrktng Industry. Oil & Gas Refining/Mrktng is the fourth most overbought industry. 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 downtrend had started on July 30, 2014 at 104.50 and reached 32.41 on January 20, 2016. HES lost 72.09 points, or 68.99%, in 77 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (39.33) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. HES may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.

Medium-term trend: [See HES medium-term trend chart]
A medium-term uptrend had started on August 30, 2017 at 37.25 and reached 63.67 on May 9, 2018. HES gained -26.42 points, or -70.93%, in 36 weeks. Price is near the trend high.

Weekly Technical Indicators: [See HES weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 16, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 April 27, 2018 at 55.86 and reached 63.67 on May 9, 2018. HES gained -7.81 points, or -13.98%, in 12 days. The price is now at the 12.16% retracement level.

Daily Technical Indicators: [See HES daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.56
Williams' Percentage Range (W%R) 3.30
Strong Overbought
Lane's Stochastic (%D-Slow) 83.68
Overbought
Greed/Fear Indicator (GFI) 82.30
Overbought
Moving Average Converg./Diverg. (MACD) 2.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.07
Williams' Percentage Range (W%R) 1.20
Strong Overbought
Lane's Stochastic (%D-Slow) 92.43
Strong Overbought
Greed/Fear Indicator (GFI) 85.73
Overbought
Moving Average Converg./Diverg. (MACD) 1.78
Trading Signals
Description Value Chart
Daily Stochastic Crossing 62.91
Price 62.72
Upper Bollinger Band 62.43
Weekly Stochastic Crossing 62.32
Parabolic System 58.86
20 Day Moving Average 58.72
Lower Bollinger Band 54.38
50 Day Moving Average 53.47
Sector and Industry
Description Name Rank
Sector Basic Materials 10
Industry Oil & Gas Refining/Mrktng 160
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 55.86
Low Date 04/27/2018
High 63.67
High Date 05/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 55.86
Low Date 04/27/2018
High 63.67
High Date 05/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 40.37
Low Date 02/09/2018
High 63.67
High Date 05/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.25
Low Date 08/30/2017
High 63.67
High Date 05/09/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 42.55
Support 39.33
High 104.50
High Date 07/30/2014
Low 32.41
Low Date 01/20/2016
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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