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For today's chart we've chosen to take a look at Hess Corporation (NYSE:HES) because several technical indicators are suggesting that we could see a short-term pullback. As you can see from the chart below, the Relative Strength indicator (RSI) has fallen below 70, which is a common signal used by traders to suggest that the price is getting ready to make a move lower. Technical traders are likely thinking that the rally is becoming overextended and it would not be surprising to see a correction toward the support of the longer-term moving averages.

We've also added the Parabolic SAR indicator, which triggered a sell signal today. Notice how today's price action caused the dot to move from below the price to above. This reversal in the positioning of the dots is a signal of a move lower and many bearish traders will likely set their stop loss orders near the upper dot ($105.85). It is important to keep in mind that the long-term trend remains upward. However, given the recent weakness we believe that it may be a good time to take some profit off the table.


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