HES pushes through 50-day moving average


Hess Corporation (HES) Technical Analysis Report for Aug 10, 2018 [< 1 min read]
Highlights
HES pushes through 50-day moving average
HES closes within previous day's range after lackluster session
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

HES finished the week -3.06% lower at 64.27 after gaining $0.27 (0.42%) today. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session.

Daily chart for HES
Volatility

Friday's trading range was $0.98 (1.53%), that's far below last trading month's daily average range of $1.64. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being way below average.

Support/Resistance

Prices are trading close to a key support level at 63.16. Prices are trading close to the key resistance level at 65.22.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term. The market managed to break above the 50-day moving average at 64.21 today for the first time since March 21st.

Order Flow

Further selling could move prices lower should the market test July's close-by low at 62.02.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Hess Corporation
Condition Forecast Direction Win Avg Worst Best Events
Close to R1 Resistance TQ Pro Members Only
High close to previous High TQ Pro Members Only
Bounced off Technical Resistance R1 TQ Pro Members Only
Bullish Harami Candle TQ Pro Members Only
More market conditions identified for TQ Pro members...
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