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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

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- 3/15/2024 -
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Hess Corporation (HES) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price touches the upper Bollinger BandThe period of low volatility of the stock price
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It was a first positive week for the Hess Corporation (HES). During the week, the HES gained 5.98 points, or 4.13%, and closed at 150.86 on Friday, March 15, 2024. Weekly volume was -11% 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 uptrend had started on March 18, 2020 at 26.06 and reached 167.75 on October 19, 2023. HES gained -141.69 points, or -543.71%, in 187 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 143.16 and resistance is at 181.76. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See HES medium-term trend chart]
A medium-term downtrend had started on October 19, 2023 at 167.75 and reached 131.70 on December 8, 2023. HES lost 36.05 points, or 21.49%, in 7 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (141.70) 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 medium-term trend.

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

The weekly MACD line is above its signal line since February 16, 2024. The distance between MACD and the signal line is low, but getting bigger. 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 January 18, 2024 at 135.64 and reached 151.67 on March 15, 2024. HES gained -16.03 points, or -11.82%, in 57 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 148.99 and resistance is at 155.95. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See HES daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.

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 touches the upper Bollinger Band. The distance between the Bollinger Bands is falling, and it was 5.73% on Friday. It is 53.74% lower than one year average. It indicates the period of low volatility of the stock price. 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) 51.98
Williams' Percentage Range (W%R) 20.40
Lane's Stochastic (%D-Slow) 80.73
Overbought
Greed/Fear Indicator (GFI) 70.78
Moving Average Converg./Diverg. (MACD) 0.78
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.47
Williams' Percentage Range (W%R) 47.80
Lane's Stochastic (%D-Slow) 74.45
Greed/Fear Indicator (GFI) 59.79
Moving Average Converg./Diverg. (MACD) -0.17
Trading Signals
Description Value Chart
Weekly Trendline Resistance 155.95
Monthly Trendline Resistance 151.38
Upper Bollinger Band 151.18
Price 150.86
Daily Stochastic Crossing 150.27
Weekly Trendline Support 148.99
Weekly Stochastic Crossing 148.04
20 Day Moving Average 147.26
50 Day Moving Average 144.24
Monthly Trendline Support 143.79
Parabolic System 143.45
Yearly Trendline Support 143.16
Lower Bollinger Band 142.52
Quarterly Trendline Support 141.70
Quarterly Trendline Resistance 133.08
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Integrated Oil & Gas 79
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 142.74
Low Date 03/06/2024
High 151.67
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 155.95
Support 148.99
Low 135.64
Low Date 01/18/2024
High 151.67
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Resistance
Resistance 151.38
Support 143.79
Low 131.70
Low Date 12/08/2023
High 151.67
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 133.08
Support 141.70
High 167.75
High Date 10/19/2023
Low 131.70
Low Date 12/08/2023
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 181.76
Support 143.16
Low 26.06
Low Date 03/18/2020
High 167.75
High Date 10/19/2023
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.