Hess Stock Forecast
Green day on Thursday for Hess
(Updated on Apr 25, 2024)
The Hess stock price gained 1.46% on the last trading day (Thursday, 25th Apr 2024), rising from $159.13 to $161.45. It has now gained 7 days in a row. It is not often that stocks manage to gain so many days in a row, and falls for a day or two should be expected. During the last trading day the stock fluctuated 2.25% from a day low at $158.41 to a day high of $161.97. The price has risen in 7 of the last 10 days and is up by 2.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 103 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $385.85 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $160.56, a level that may pose a second chance to hit a runner. According to fan-theory $169.92 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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HES Signals & Forecast
The Hess stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $155.81 and $152.61. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 7.45%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Hess stock
On the downside, the stock finds support just below today's level from accumulated volume at $145.32 and $143.02. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Hess finds support just below today's level at $145.32. If this is broken, then the next support from accumulated volume will be at $143.02 and $142.07.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.56 between high and low, or 2.25%. For the last week the stock has had daily average volatility of 2.21%.
Since the Hess has been rising for 7 days in a row, the risk over the next couple of days has increased. We don't expect a major reaction as the stock is in very good shape technically, and therefore hold a positive evaluation despite the very short term risk.
Our recommended stop-loss: $155.18 (-3.88%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 7 days ago.)
Trading Expectations (HES) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Hess Corporation to open at $160.61, and during the day (based on 14 day Average True Range), to move between $158.44 and $164.46, which gives a possible trading interval of +/-$3.01 (+/-1.87%) up or down from last closing price. If Hess Corporation takes out the full calculated possible swing range there will be an estimated 3.73% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $145.32, some $16.13 (9.99%) from the current price of $161.45, our system finds the risk reward attractive.
Is Hess Corporation stock A Buy?
Hess holds several positive signals and has broken the weak rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 5.851 Strong Buy Candidate Unchanged
Predicted Opening Price for Hess Corporation of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$160.61 ( 0.520%) | $161.45 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HES
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 164.17 | 1.68 % | |
R2 | 162.81 | 0.84 % | ||
R1 | 161.97 | 0.322 % | ||
Current price: | 161.45 | |||
Support | S1 | 159.25 | -1.36 % | |
S2 | 158.41 | -1.88 % | ||
S3 | 157.05 | -2.72 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 161.45 | |||
Support | S1 | 145.32 | -9.99% | |
S2 | 143.02 | -11.42% | ||
S3 | 142.07 | -12.00% |
HES Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Mar 06, 2024 | Mar 18, 2024 | Mar 28, 2024 | $0.438 | 0.287% |
2 | Mar 06, 2024 | Mar 15, 2024 | Mar 28, 2024 | $0.438 | 0.287% |
3 | Dec 06, 2023 | Dec 15, 2023 | Dec 29, 2023 | $0.438 | 0.303% |
4 | Sep 06, 2023 | Sep 15, 2023 | Sep 29, 2023 | $0.438 | 0.286% |
5 | May 17, 2023 | Jun 14, 2023 | Jun 30, 2023 | $0.438 | 0.322% |
FAQ
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