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Chart of the Day: Can Anything Stop Hess?
David Russell
November 7, 2022

Energy remains the top-performing sector this year. Today we’re focusing a member of the group with potentially classic breakout behavior: Hess.

The first pattern on the oil and gas stock’s chart is the is the October 26 surge above $137. That was the previous all-time high from 2008. A move through that level suggests old resistance has lost its relevance.

Second, it just completed …

For more, please click here to view the related idea and chart analysis on TradingView.

Hess (HES), daily chart with selected patterns and indicators, courtesy of TradingView.

About the author

David Russell is VP of Market Intelligence at TradeStation Group. Drawing on two decades of experience as a financial journalist and analyst, his background includes equities, emerging markets, fixed-income and derivatives. He previously worked at Bloomberg News, CNBC and E*TRADE Financial. Russell systematically reviews countless global financial headlines and indicators in search of broad tradable trends that present opportunities repeatedly over time. Customers can expect him to keep them apprised of sector leadership, relative strength and the big stories – especially those overlooked by other commentators. He’s also a big fan of generating leverage with options to limit capital at risk.