Hess Is Near to the 200 Day

Published on Friday, 09 March 2012 08:40 Written by TradersHuddle Wire

New York, March 9th (TradersHuddle.com) - Shares of Hess Corporation (NYSE:HES) traded at $64.56 close to its 200 day moving average set at $62.39. Hess' price action is just above this key support level, and it will certainly raise traders attention, as a possible trading opportunity.

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.

Latest price action range, defined by a peaks and troughs algorithm places calculated support at $62.5 and calculated resistance at $67.86. These levels will certainly be watched by traders, as they provide insight into the latest price dynamics defined by Hess stock.

Traders wanting to establish a position on Hess will be watching the price action for evidence of buying near the 200 day moving average, and opening a position as close as possible to this important level. Also, traders will be monitoring at the latest price action, via the stocks current range previously defined for insights of other key levels that might affect their upside or downside.