The Greedy Trader Weekly Analysis
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Hess Corporation
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend support line
Daily :Broken trend support lineBearish Three Black Crows CandlestickRelative Strength Index oversoldLane's Stochastic is strongly oversoldStochastic has raised above the signal lineThe Bollinger Bands are historically far apart
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It was the negative week for the Hess Corporation (HES). During the week, the HES dropped -5.67 points, or -11.86%, and closed at 42.12 on Friday, February 09, 2018. Weekly volume was 58% above average.

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 trend support level is at 38.58 and resistance is at 46.64. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern 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 55.48 on January 11, 2018. HES gained -18.23 points, or -48.94%, in 19 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (45.07) 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. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since September 15, 2017. 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 downtrend had started on January 11, 2018 at 55.48 and reached 40.37 on February 9, 2018. HES lost 15.11 points, or 27.24%, in 29 days. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (45.60) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 short-term trend.

Daily Technical Indicators: [See HES daily technical indicators chart]
Daily Relative Strength Index is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Lane's Stochastic. 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. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since January 23, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (39.03%) is close to one year high (27.65%). It is 182.19% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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 Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 13.32
Oversold
Williams' Percentage Range (W%R) 78.40
Lane's Stochastic (%D-Slow) 8.88
Strong Oversold
Greed/Fear Indicator (GFI) 14.60
Oversold
Moving Average Converg./Diverg. (MACD) -0.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.42
Williams' Percentage Range (W%R) 78.40
Lane's Stochastic (%D-Slow) 68.94
Greed/Fear Indicator (GFI) 45.42
Moving Average Converg./Diverg. (MACD) 0.76
Trading Signals
Description Value Chart
Upper Bollinger Band 56.64
20 Day Moving Average 50.41
Weekly Stochastic Crossing 49.75
Quarterly Trendline Resistance 48.50
50 Day Moving Average 48.49
Yearly Trendline Resistance 46.64
Parabolic System 46.41
Weekly Trendline Support 45.60
Quarterly Trendline Support 45.07
Price 42.12
Daily Stochastic Crossing 41.57
Lower Bollinger Band 40.20
Yearly Trendline Support 38.58
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Oil & Gas Refining/Mrktng 91
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 54.52
High Date 01/25/2018
Low 40.37
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Support
Resistance 53.37
Support 45.60
High 55.48
High Date 01/11/2018
Low 40.37
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.35
Low Date 12/14/2017
High 55.48
High Date 01/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 48.50
Support 45.07
Low 37.25
Low Date 08/30/2017
High 55.48
High Date 01/11/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Valid
Resistance 46.64
Support 38.58
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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