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Watch for Hess Corp to Potentially Pullback After Gaining 1.44% Yesterday

By Nick Russo

Hess Corp (NYSE:HES) traded in a range yesterday that spanned from a low of $39.43 to a high of $40.14. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $39.62 on volume of 1.4 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 Corp have traded between a low of $37.25 and a high of $65.56 and are now at $40.03, which is 7% 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%.

SmarTrend recommended that its subscribers protect gains by selling shares of Hess Corp on August 10th, 2017 by issuing a Downtrend alert when the shares were trading at $42.33. Since that call, shares of Hess Corp have fallen 6.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders hess corp

Ticker(s): HES