HES | SHORTNYSE:HES
Technical Analysis of Hess Corporation (HES)
Key Observations:
Current Price Action:
Price: $137.31
Recent Drop: -12.94 (-8.61%)
Support and Resistance Levels:
Immediate Support: $135.95 (Bearish Line)
Further Supports: $129.00 (Target Price 1), $113.82 (Target Price 2), and $100.86 (Target Price 3)
Resistance: The price recently broke below a support level at around $150.76.
Trendlines:
The price has broken below a key upward trendline, indicating a potential shift from a bullish to a bearish trend.
Relative Strength Index (RSI):
Current RSI: 43.39
The RSI shows a decline, indicating increasing selling pressure and approaching the oversold zone.
Target Prices:
Target Price 1: $129.00
This level is the immediate support and a potential first target for any continued downward movement.
Target Price 2: $113.82
If the price breaks below the immediate support, the next target is around $113.82, a previous support level.
Target Price 3: $100.86
Further downside could see the price reaching $100.86, another key support level.
Summary:
Hess Corporation (HES) has experienced a significant drop, breaking below a key support level and its upward trendline. The next levels to watch are $135.95, $129.00, $113.82, and $100.86. The RSI indicates potential for further declines if market conditions remain negative.
