News Image

Good technical signals and a possible breakout for HESS CORP.

By Mill Chart

Last update: Aug 29, 2023

A possible breakout setup was detected on HESS CORP (NYSE:HES) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:HES.

HES Daily chart on 2023-08-29

Technical Analysis Observations

As part of its analysis, ChartMill provides a comprehensive Technical Rating for each stock. This rating, ranging from 0 to 10, is updated on a daily basis and is based on the evaluation of various technical indicators and properties.

Taking everything into account, HES scores 9 out of 10 in our technical rating. Both in the recent history as in the last year, HES has proven to be a steady performer, scoring decent points in every aspect analyzed.

  • Both the short term and long term trends are positive. This is a very positive sign.
  • When comparing the yearly performance of all stocks, we notice that HES is one of the better performing stocks in the market, outperforming 89% of all stocks.
  • HES is part of the Oil, Gas & Consumable Fuels industry. There are 217 other stocks in this industry. HES outperforms 83% of them.
  • HES is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so HES is performing more or less in line with the market.
  • HES is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.

Check the latest full technical report of HES for a complete technical analysis.

How does the Setup look for NYSE:HES

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:HES has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, HES also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. A pullback is taking place, which may present a nice opportunity for an entry. There is a resistance zone just above the current price starting at 156.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 153.38, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for HES in the last couple of days, which is a good sign.

How can NYSE:HES be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

Every day, new breakout setups can be found on ChartMill in our Breakout screener.

Keep in mind

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.



NYSE:HES (11/30/2023, 11:10:07 AM)


+0.09 (+0.06%)

HES News

News Imagean hour ago - Halper Sadeh LLPSHAREHOLDER INVESTIGATION: Halper Sadeh LLC Investigates MRTX, HES, SIX, MIRO

/PRNewswire/ -- Halper Sadeh LLC, an investor rights law firm, is investigating the following companies for potential violations of the federal securities laws...

News Image2 hours ago - Seeking AlphaOPEC+ agrees on additional 1M bbl/day oil production cut - reports (NYSEARCA:USO)

OPEC+ agrees on 1M bbl/day production cut, fueling expectations of tighter supply and boosting crude oil prices.

News Image4 hours ago - Investor's Business DailyWarren Buffett's Favorite Oil Stock Goes Shifts To Offense In The Permian After Exxon, Chevron, Mega Deals

Occidental Petroleum appears to be the top contender to purchase a major shale producer.

News Image4 hours ago - InvestorPlace3 Stocks With the Highest Dividends You Can Buy Now

These are the stocks with the highest dividends and represent fundamentally strong companies with healthy dividend growth visibility.

News Image20 hours ago - Seeking AlphaHess sinks into the close on rising tensions between Guyana, Venezuela (NYSE:HES)

Hess and Exxon Mobil stocks plummet as concerns rise over a possible military invasion by Venezuela into Guyana, affecting oil-rich areas and increasing...

News Imagea day ago - InvestorPlaceThe 7 Biggest Dividend Stocks in Warren Buffett’s Portfolio

Are you curious about those Warren Buffet dividend stocks he owns in his portfolio? This article has you covered on the most important names.

News Image2 days ago - InvestorPlace3 Sad Dow Stocks to Sell in December

The shares of these companies continue to underperform the broader market, making them the best Dow stocks to sell as we near year's end.

News Image3 days ago - The Motley FoolWarren Buffett Invested $20 Billion of His Portfolio in 2 Stocks That Could Soar 20% or More Over the Next 12 Months, According to Wall Street

Should you be as heavily invested in these stocks as the Oracle of Omaha?

News Image6 days ago - The Motley Fool$1,000 Invested in These 3 Dividend Stocks Could Make You Rich

These companies have slowly enriched their investors over the years.

News Image8 days ago - InvestorPlaceWhy Are Oil Stocks Down Today?

Oil stocks are in the red across the board after OPEC+ opted to push back a key meeting. Why are oil stocks down today?

News Image8 days ago - InvestorPlace3 Defensive Stocks to Buy Now and Hold Through the Next Recession

For investors looking to play defense right now, here are three of the best defensive stocks to load up on before a potential recession hits.

News Image9 days ago - The Motley FoolAfter Nearly $70 Billion in Acquisitions, What's Next for Chevron?

The oil giant has been an active buyer this year.

HES Links
Follow us for more