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Integrated Oil & Gas Industry Technical Analysis

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- 1/8/2021 -
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Hess Corporation (HES)

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtStochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is above the upper Bollinger Band
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It was a first positive week after 3 consecutive negative weeks for the Hess Corporation (HES). During the week, the HES gained 7.46 points, or 14.13%, and closed at 60.25 on Friday, January 8, 2021. Weekly volume was -26% 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 downtrend had started on November 12, 2019 at 74.11 and reached 26.06 on March 18, 2020. HES lost 48.05 points, or 64.84%, in 18 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (37.50) 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 October 29, 2020 at 34.82 and reached 61.93 on January 8, 2021. HES gained -27.11 points, or -77.86%, in 10 weeks. The price is now at the 6.20% retracement level.

Weekly Technical Indicators: [See HES weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 13, 2020. This is an indication that the medium-term trend is up. 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 December 22, 2020 at 52.03 and reached 61.93 on January 8, 2021. HES gained -9.90 points, or -19.03%, in 17 days. The price is now at the 16.97% retracement level.

Daily Technical Indicators: [See HES daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.

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

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 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) 59.05
Williams' Percentage Range (W%R) 3.10
Strong Overbought
Lane's Stochastic (%D-Slow) 75.67
Greed/Fear Indicator (GFI) 77.20
Moving Average Converg./Diverg. (MACD) 1.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.32
Overbought
Williams' Percentage Range (W%R) 1.10
Strong Overbought
Lane's Stochastic (%D-Slow) 87.50
Overbought
Greed/Fear Indicator (GFI) 82.86
Overbought
Moving Average Converg./Diverg. (MACD) -0.25
Trading Signals
Description Value Chart
Daily Stochastic Crossing 60.77
Price 60.25
Upper Bollinger Band 60.18
Weekly Stochastic Crossing 59.10
20 Day Moving Average 55.50
Parabolic System 53.59
Lower Bollinger Band 49.74
50 Day Moving Average 49.46
Sector and Industry
Description Name Rank
Sector Energy 12
Industry Integrated Oil & Gas 102
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 52.18
Low Date 12/29/2020
High 61.93
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.03
Low Date 12/22/2020
High 61.93
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.82
Low Date 10/29/2020
High 61.93
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 45.26
Support 37.50
High 74.11
High Date 11/12/2019
Low 26.06
Low Date 03/18/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 74.81
High Date 10/01/2018
Low 26.06
Low Date 03/18/2020
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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