Will Chart Analysts Notice Bad Omen on Hess's Chart
Portfolio Pulse from Benzinga Insights
A 'death cross' has formed on Hess's (NYSE:HES) chart, indicating a potential bearish trend for the stock. The death cross occurs when the 50-day moving average moves below the 200-day moving average, signaling a possible change in the long-term trend.
June 27, 2023 | 2:48 pm
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Hess's chart has formed a 'death cross', indicating a potential bearish trend for the stock. Investors may consider possible short positions based on other factors like price levels and company fundamentals.
The death cross is a technical indicator that suggests a potential bearish trend for a stock. In Hess's case, the 50-day moving average has moved below the 200-day moving average, indicating a possible change in the long-term trend. This could lead to a decline in the stock price in the short term.
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