Rally

Resistance

Daily

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>HES stock price is near the channel highs and is looking for a breakout.</a> </li> 
 <li> <span>2</span> <a>Buyers are gaining traction and attempting to surpass $160.</a> </li> 
</ul> 
<p>Hess Corporation (HES stock) chart shows a rising parallel channel and is trading near the channel highs, suggesting a near-term breakout. HES share price is close to the upper trendline, near $160, and is close to registering a much-awaited breakout soon. Moreover, the price action showcased buyers’ dominance, as the bulls persisted in making long build-ups, forming higher highs sequences in the past sessions.</p> 
<p>HES stock chart structure shows a reversal from the demand zone of $100 and persisted in extending the bullish momentum for the past months and has recovered over 58% of gains, retaining the bullishness. Furthermore, bulls retained their strength and defeated the bears.&nbsp;</p> 
<p>However, the inverted hammer candlestick was formed in the last sessions, signaling that the bears held onto the $160 level in the past sessions. If the price surpasses the $160 level, a much-awaited breakout could be seen, and a follow-on buying action will soon exceed the rally toward $200.</p> 
<p>At press time, HES stock price was $157.83, with an intraday gain of 0.40%, showing bullishness on the charts. Moreover, the trading volume increased by 1.90% to 1.899 Million. The market cap is $48.463 Billion. Moreover, analysts maintained a strong buy rating with a yearly target price of $167.73, suggesting a strong growth outlook for the coming sessions.</p> 
<p>Hess Corp is an exploration and production company that engages in the exploration, development, production, transportation, purchase &amp; sale of crude oil, natural gas liquids, and natural gas with production operations. It operates through the following segments: Exploration and Production and Midstream.&nbsp;</p> 
<p>The Midstream segment provides fee-based services, including crude oil and natural gas gathering, processing of natural gas and the fractionation of natural gas liquids, transportation of crude oil by rail car, terminaling and loading crude oil and natural gas liquids, and the storage and terminaling of propane, primarily in the Bakken shale play of North Dakota.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-hes-stock-preparing-a-breakout-on-daily-charts-strong"><strong>HES Stock Preparing a Breakout On Daily Charts</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-large">
  <img decoding="async" loading="lazy" width="1024" height="464" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-1024x464.png" alt="HES Stock (NYSE: HES) Close To Breakout, Is a Rally On?" class="wp-image-165389" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-1024x464.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-300x136.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-768x348.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-1536x696.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-750x340.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96-1140x517.png 1140w, https://www.thecoinrepublic.com/wp-content/uploads/2023/09/image-96.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: HES Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, HES stock price is trading in the bull territory and close to the channel upper trendline near $160, which, if surpassed, would lead to a massive rally toward the cluster of $180. Moreover, the price action showcased an uptrend, favoring the bulls, suggesting follow-on buying action. Furthermore, the price is trading above the 61.8% Fib level and is on the verge of the upper Bollinger band, showing bullishness.</p> 
<p>The RSI curve stayed in the overbought zone showing bullish divergence, suggesting a positive outlook on the charts.</p> 
<p>The MACD indicator showcased a bullish crossover, and forming green bars on the histogram suggests a breakout above the neckline of $160 is likely.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/09/05/half-of-the-crypto-moguls-hold-bitcoin-in-their-portfolio/" target="_blank" rel="noreferrer noopener">HESS Corporation (HES stock) price </a>showcases bullishness and has been trading inside the rising parallel channel for the past sessions. Moreover, the price is close to the upper trendline and suggests a breakout soon. Furthermore, the technicals showcased buyer dominance and were near to registering a much-awaited breakout, which led stock toward $200.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $150 and $140</p> 
<p>Resistance Levels: $160 and $175</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any people named in this article are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

HES Stock (NYSE: HES) Close To Breakout, Is a Rally On?

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