Hess Rises 4.81% on Heavy Volume: Watch For Potential Pullback
Hess (NYSE:HES) traded in a range yesterday that spanned from a low of $55.30 to a high of $60.00. Yesterday, the shares gained 4.8%, which took the trading range above the 3-day high of $57.88 on volume of 3.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of Hess have traded between a low of $32.41 and a high of $79.00 and are now at $59.69, which is 84% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has advanced 3.3%.
SmarTrend recommended that subscribers consider buying shares of Hess on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $40.52. Since that recommendation, shares of Hess have risen 41.1%. We continue to monitor HES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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