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Look for Shares of Hess Corp to Potentially Pullback after Yesterday's 1.78% Rise

By David Diaz

Hess Corp (NYSE:HES) traded in a range yesterday that spanned from a low of $70.41 to a high of $70.83. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $70.14 on volume of 590,000 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, Hess Corp share prices have been bracketed by a low of $50.08 and a high of $74.11 and are now at $71.06, 42% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.3% while the 200-day MA has risen 0.2%.

SmarTrend recommended that subscribers consider buying shares of Hess Corp on December 17th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $64.94. Since that recommendation, shares of Hess Corp have risen 7.9%. We continue to monitor HES for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders hess corp

Ticker(s): HES