Possible Bearish Inside Day Candle Pattern Detected for Hess (NYSE:HES)
SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Hess (NYSE:HES) based on the price action in the company's shares. Today's price range of $51.82 and $52.73 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Hess may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.
Hess (NYSE:HES) has potential upside of 32.7% based on a current price of $52.23 and analysts' consensus price target of $69.32. The stock should run into initial resistance at its 200-day moving average (MA) of $52.70 and subsequent resistance at its 50-day MA of $53.41.
In the past 52 weeks, shares of Hess have traded between a low of $32.41 and a high of $76.42 and are now at $52.23, which is 61% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 2.2%.
Hess Corporation is a global integrated energy company. The Company explores for, produces, markets, and refines crude oil and natural gas. The Company operates in countries that include Algeria, Australia, Azerbaijan, Brazil, Denmark, Egypt, Equatorial Guinea, Gabon, Ghana, Indonesia, Libya, Malaysia, Norway, Peru, Russia, Thailand, the United Kingdom and the United States.
SmarTrend is monitoring the recent change of momentum in Hess. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Hess in search of a potential trend change.
Keywords: bearish inside day candle Hess