Hess Stock Forecast

Weaker technical forecast for Hess as stock downgraded to Buy Candidate.
(Updated on Apr 22, 2024)

HES Signals & Forecast

There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -1.11%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $152.61 and $151.40. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.

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 $5.34 between high and low, or 3.52%. For the last week the stock has had daily average volatility of 1.91%.

Our recommended stop-loss: $150.41 (-3.73%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 8 days ago.)

Trading Expectations (HES) For The Upcoming Trading Day Of Tuesday 23rd

For the upcoming trading day on Tuesday, 23rd we expect Hess Corporation to open at $155.13, and during the day (based on 14 day Average True Range), to move between $153.24 and $159.22, which gives a possible trading interval of +/-$2.99 (+/-1.92%) up or down from last closing price. If Hess Corporation takes out the full calculated possible swing range there will be an estimated 3.83% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $156.34 (0.07%) than the support at $145.32 (6.98%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Hess Corporation stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Hess stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 4.533 Buy Candidate Downgraded

Predicted Opening Price for Hess Corporation of Tuesday, April 23, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.