Hess Midstream Partners LP Representing Stock Forecast
Weaker technical forecast for Hess Midstream Partners LP Representing as stock downgraded to Sell Candidate.
(Updated on Apr 25, 2024)
The Hess Midstream Partners LP Representing stock price fell by -1.94% on the last day (Thursday, 25th Apr 2024) from $35.63 to $34.94. During the last trading day the stock fluctuated 3.33% from a day low at $34.56 to a day high of $35.71. The price has been going up and down for this period, and there has been a -2.32% loss for the last 2 weeks. Volume has increased on the last day by 624 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 million shares were bought and sold for approximately $51.99 million.
The stock lies in the lower part of a weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $34.44 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 7.50% during the next 3 months and, with a 90% probability hold a price between $37.02 and $39.93 at the end of this 3-month period.
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HESM Signals & Forecast
There are few to no technical positive signals at the moment. The Hess Midstream Partners LP Representing stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $35.20 and $35.50. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 03, 2024, and so far it has fallen -4.22%. 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). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Hess Midstream Partners LP Representing stock
Hess Midstream Partners LP Representing finds support from accumulated volume at $34.18 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.15 between high and low, or 3.33%. For the last week the stock has had daily average volatility of 2.39%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (HESM) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Hess Midstream Partners LP Representing Limited Partner Interests to open at $35.07, and during the day (based on 14 day Average True Range), to move between $34.27 and $35.61, which gives a possible trading interval of +/-$0.666 (+/-1.91%) up or down from last closing price. If Hess Midstream Partners LP Representing Limited Partner Interests takes out the full calculated possible swing range there will be an estimated 3.81% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $35.18 (0.69%) than the support at $34.18 (2.18%), 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 Midstream Partners LP Representing Limited Partner Interests will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.580. We will update the financials statements for Hess Midstream Partners LP Representing Limited Partner Interests, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.62% in the first trading day after earnings release.
Is Hess Midstream Partners LP Representing Limited Partner Interests stock A Buy?
The Hess Midstream Partners LP Representing stock holds several negative signals and despite the positive trend, we believe Hess Midstream Partners LP Representing will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Sell candidate.
Current score: -2.343 Sell Candidate Downgraded
Predicted Opening Price for Hess Midstream Partners LP Representing Limited Partner Interests of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $35.07 ( 0.373%) | $34.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for HESM
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 36.22 | 3.67 % | |
| R2 | 35.78 | 2.41 % | ||
| R1 | 35.51 | 1.63 % | ||
| Current price: | 34.94 | |||
| Support | S1 | 34.63 | -0.89 % | |
| S2 | 34.36 | -1.66 % | ||
| S3 | 33.92 | -2.92 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 35.50 | 1.60 % | |
| R2 | 35.33 | 1.12 % | ||
| R1 | 35.18 | 0.687 % | ||
| Current price | 34.94 | |||
| Support | S1 | 34.18 | -2.18% | |
| S2 | 33.28 | -4.75% | ||
| S3 | 32.62 | -6.64% |
HESM Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 01, 2024 | May 01, 2024 | May 14, 2024 | $0.652 | 1.87% |
| 2 | Jan 29, 2024 | Feb 07, 2024 | Feb 14, 2024 | $0.634 | 1.94% |
| 3 | Oct 23, 2023 | Nov 01, 2023 | Nov 14, 2023 | $0.618 | 2.05% |
| 4 | Jul 24, 2023 | Aug 02, 2023 | Aug 14, 2023 | $0.601 | 1.95% |
| 5 | Apr 24, 2023 | May 03, 2023 | May 12, 2023 | $0.585 | 2.04% |
FAQ
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