Hess Corporation (HES)
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|It was a second consecutive positive week for the Hess Corporation (HES). During the week, the HES gained 3.12 points, or 7.19%, and closed at 46.54 on Friday, November 20, 2020. Weekly volume was -16% below average. |
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 Falling Channel chart pattern. The trend support level is at 34.22 and resistance is at 48.52. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
Medium-term trend: [See HES medium-term trend chart]
A medium-term downtrend had started on June 8, 2020 at 60.03 and reached 34.82 on October 29, 2020. HES lost 25.21 points, or 42.00%, in 20 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 32.91 and resistance is at 51.79. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
Weekly Technical Indicators: [See HES weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See HES short-term trend chart]
A short-term downtrend had started on November 18, 2020 at 48.40 and reached 44.80 on November 19, 2020. HES lost 3.60 points, or 7.44%, in 1 days. The price is now at the 48.33% retracement level.
Daily Technical Indicators: [See HES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since October 8, 2020. The distance between MACD and the signal line is relatively high, but getting smaller.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.