High Above Average Volume on Hess

Published on Friday, 24 February 2012 11:38 Written by TradersHuddle Wire

New York, February 24th (TradersHuddle.com) - Unusual high volume detected on shares of Hess Corporation (NYSE:HES), early in the trading session. Hess is currently trading higher by 1.76%, so definitely the buyers stepping in, as the stock's volume is on pace to break its average.

Hess Corporation (NYSE:HES) is a global integrated energy company based in New York, NY. The Company explores for, produces, markets, and refines crude oil and natural gas. The company operates in two segments, Exploration and Production and Marketing and Refining.

Hess has already traded 0.805 times its 3-month average volume, and has calculated support and resistance at $54.10 and $67.02 respectively. Traders like to use volume as their lie detector for price action moves through predefined trading ranges.

The overall market index S&P 500 is trading higher by 0.24% from its previous trading close, which means that Hess stock is outperforming the overall market.