Watch for Hess to Potentially Pullback After Gaining 3.47% Yesterday
Hess (NYSE:HES) traded in a range yesterday that spanned from a low of $51.28 to a high of $52.88. Yesterday, the shares gained 3.5%, which took the trading range above the 3-day high of $52.51 on volume of 2.1 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 $76.42 and are now at $52.80, which is 63% 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 is tracking the current trend status for Hess and will alert subscribers who have HES in their portfolio or watchlist when shares have changed trend direction.
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