Hess Stock Forecast
Hess stock upgraded to Buy Candidate.
(Updated on Apr 17, 2024)
The Hess stock price gained 0.359% on the last trading day (Wednesday, 17th Apr 2024), rising from $150.26 to $150.80. During the last trading day the stock fluctuated 1.53% from a day low at $149.99 to a day high of $152.28. The price has fallen in 6 of the last 10 days and is down by -3.44% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 49 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $188.08 million.
The stock lies in the lower part of a strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $150.20 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 10.67% during the next 3 months and, with a 90% probability hold a price between $166.23 and $176.22 at the end of this 3-month period.
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HES Signals & Forecast
The Hess stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $153.98. On a fall, the stock will find some support from the long-term average at approximately $150.74. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. 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. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -4.55%. 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).
Support, Risk & Stop-loss for Hess stock
Hess finds support from accumulated volume at $145.32 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.29 (1.53%) between high and low. For the last week, the stock has had daily average volatility of 2.53%.
Our recommended stop-loss: $142.74 (-5.35%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 5 days ago.)
Trading Expectations (HES) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect Hess Corporation to open at $151.02, and during the day (based on 14 day Average True Range), to move between $147.92 and $153.68, which gives a possible trading interval of +/-$2.88 (+/-1.91%) up or down from last closing price. If Hess Corporation takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $150.86 (0.04%) than the support at $145.32 (3.63%), 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.
Earnings coming up
Hess will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $1.74. We will update the financials statements for Hess, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.81% in the first trading day after earnings release.
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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 2.245 Buy Candidate Upgraded
Predicted Opening Price for Hess Corporation of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $151.02 ( 0.148%) | $150.80 |
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 | 153.31 | 1.67 % | |
| R2 | 152.44 | 1.09 % | ||
| R1 | 151.90 | 0.728 % | ||
| Current price: | 150.80 | |||
| Support | S1 | 150.15 | -0.432 % | |
| S2 | 149.61 | -0.790 % | ||
| S3 | 148.73 | -1.37 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 156.12 | 3.53 % | |
| R2 | 152.64 | 1.22 % | ||
| R1 | 150.86 | 0.0398 % | ||
| Current price | 150.80 | |||
| Support | S1 | 145.32 | -3.63% | |
| S2 | 143.02 | -5.16% | ||
| S3 | 142.07 | -5.79% |
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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