The Greedy Trader Weekly Analysis
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Hess Corporation (HES)

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Summary:
Weekly :Trend resistance at 73.05Broken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldPrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the Hess Corporation (HES). During the week, the HES dropped -2.00 points, or -2.62%, and closed at 74.37 on Friday, July 23, 2021. Weekly volume was -10% below average.

Long-term trend: [See HES long-term trend chart]
A long-term downtrend had started on October 1, 2018 at 74.81 and reached 26.06 on March 18, 2020. HES lost 48.75 points, or 65.17%, in 76 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The price is near the trend resistance line (73.05). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the 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 91.09 on June 23, 2021. HES gained -56.27 points, or -161.60%, in 33 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (92.21) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. HES may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See HES weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since July 9, 2021. 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 July 21, 2021 at 77.18 and reached 73.56 on July 23, 2021. HES lost 3.62 points, or 4.69%, in 2 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See HES daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 below its signal line since June 10, 2021. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 20.13
Williams' Percentage Range (W%R) 85.30
Oversold
Lane's Stochastic (%D-Slow) 17.17
Oversold
Greed/Fear Indicator (GFI) 17.31
Oversold
Moving Average Converg./Diverg. (MACD) -2.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.63
Williams' Percentage Range (W%R) 62.40
Lane's Stochastic (%D-Slow) 52.21
Greed/Fear Indicator (GFI) 46.33
Moving Average Converg./Diverg. (MACD) 7.55
Trading Signals
Description Value Chart
Upper Bollinger Band 90.93
50 Day Moving Average 84.65
20 Day Moving Average 81.92
Weekly Stochastic Crossing 80.51
Parabolic System 77.69
Daily Stochastic Crossing 74.97
Price 74.37
Yearly Trendline Resistance 73.05
Lower Bollinger Band 70.03
Sector and Industry
Description Name Rank
Sector Energy 3
Industry Integrated Oil & Gas 40
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 77.18
High Date 07/21/2021
Low 73.56
Low Date 07/23/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 91.09
High Date 06/23/2021
Low 72.43
Low Date 07/19/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 96.59
Support 92.21
Low 34.82
Low Date 10/29/2020
High 91.09
High Date 06/23/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.06
Low Date 03/18/2020
High 91.09
High Date 06/23/2021
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Test Resistance
Resistance 73.05
Support 15.54
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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