Rounded Top for Hess MidstreamNYSE:HESM Hess Midstream LP may be forming a rounded top targeting ~$11, near where it pivoted bullish around April of 2020 after correcting from its March 2020 lows.
Confluence - OBV has been dropping into the rounded top, and recently dropped sharply while bearish volume has risen as it starts to round off.
Hess has been known for dividend payouts north of 6%. A scenario like this could create a future buying opportunity.
HESM
Hess Midstream projecting to flow downstream. HESMOr so it appears. Corrective ABC, now in the final leg pre confirmation. One thing that worries is raised momentum on the latest rally. In any case, we can always form a flat and not a zigzag.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci targets are highlighted in purple with invalidation in red. Fibonacci goals, it is prudent to suggest, are nothing more than mere fractally evident and therefore statistically likely levels that the market will go to. Having said that, the market will always do what it wants and always has a mind of its own. Therefore, none of this is financial advice, so do your own research and rely only on your own analysis. Trading is a true one man sport. Good luck out there and stay safe!