HES surges 2.45% closing $1.56 higher

Hess Corporation (HES) Technical Analysis Report for May 17, 2018

Highlights

HES rallies 2.45% closing $1.56 higher
HES closes higher for the 4th day in a row
HES pushes through previous session high
HES rises to highest close since July 2, 2015

TQ Sentiment

Report Sentiment:
50% Bullish
Technical Forecast:
TQ Pro Only
See the overall Technical Analysis forecast for today.

Overview

Moving higher for the 4th day in a row, HES finished Thursday at 65.17 surging $1.56 (2.45%). This is the biggest single day gain in over a week. Today's closing price of 65.17 marks the highest close since July 2, 2015. Closing above Wednesday's high at 63.84, Hess Corporation confirms its breakout through the previous session's high having traded $1.90 above it intraday.

Daily chart for HES

Volatility

Thursday's trading range was $2.15 (3.36%), that's above last trading month's daily average range of $1.64. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

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

Market Conditions for Hess Corporation

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