AO Signal in Focus For Hess Midstream Partners LP (HESM)

Hess Midstream Partners LP (HESM) market momentum is building as the Awesome Oscillator (AO) is showing a down-trend in the name over the past 5 bars.  Awesome Oscillator shows the difference in between the 5 SMA and 34 SMA. If to be precise, 5 SMA of midpoints is subtracted from 34 SMA of midpoints which allows to see the market momentum.  Awesome Oscillator buy signals are created when the indicator crosses from below 0 to above 0, and sell signals when reversed. The oscillator changes from green (upward movement) to red (downward movement) and back to green again.  The oscillator was developed by Bill Williams and outlined in his book titled “New Trading Dimensions”. 

Investors may be drawing up a plan for the stretch run of the calendar year. With stocks riding high, the plan may involve looking at some different classes of shares. If the portfolio is full of large caps, investors may be looking for some small cap growth stocks to add to the mix. Investors may also be looking into purchasing some foreign stocks to get the portfolio as diversified as possible. Investors may also choose to select shares from various industries. Comparing stocks among peers can be a useful way to decide which ones might be ahead of the curve and poised for an upward move.

Digging deeper into some additional technical signals, presently, Hess Midstream Partners LP (HESM) has a 14-day ATR of 0.56. The Average True Range is widely used metric that helps gauge the volatility of a particular stock. The ATR is not used to measure price direction, just to measure volatility. The ATR is an indicator developed by J. Welles Wilder. Wilder has developed multiple indicators that are still quite popular in today’s investing landscape. The general interpretation of the ATR is the higher the ATR value, the higher the volatility.

The Williams Percent Range or Williams %R is another technical indicator worth checking out. Hess Midstream Partners LP (HESM) currently has a 14 day Williams %R of -88.20. The Williams %R fluctuates between 0 and -100 measuring whether a security is overbought or oversold. The Williams %R is similar to the Stochastic Oscillator except it is plotted upside-down. Levels above -20 may indicate the stock may be considered is overbought. If the indicator travels under -80, this may signal that the stock is oversold. Chart analysts may also use the indicator to project possible price reversals and to define trends.

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The Average Directional Index or ADX is technical analysis indicator used to discern if a market is trending or not trending. The ADX alone measures trend strength but not direction. Using the ADX with the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) may help determine the direction of the trend as well as the overall momentum. Many traders will use the ADX alongside other indicators in order to help spot proper trading entry/exit points. Currently, the 14-day ADX for Hess Midstream Partners LP (HESM) is 33.69. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would indicate a strong trend. A value of 50-75 would signal a very strong trend, and a value of 75-100 would indicate an extremely strong trend.

Traders may be leaning on technical stock analysis to help with investing decisions. Hess Midstream Partners LP (HESM) currently has a 14-day Commodity Channel Index (CCI) of -91.15. Despite the name, CCI can be used on other investment tools such as stocks. The CCI was designed to typically stay within the reading of -100 to +100. Traders may use the indicator to determine stock trends or to identify overbought/oversold conditions. A CCI reading above +100 would imply that the stock is overbought and possibly ready for a correction. On the other hand, a reading of -100 would imply that the stock is oversold and possibly set for a rally.

Traders are paying renewed attention to shares of Hess Midstream Partners LP (HESM). The current 14-day RSI is presently sitting at 30.20, the 7-day is 24.51, and the 3-day is 18.60. The RSI, or Relative Strength Index is a popular oscillating indicator among traders and investors. The RSI operates in a range-bound area with values between 0 and 100. When the RSI line moves up, the stock may be experiencing strength. The opposite is the case when the RSI line is heading lower. Different time periods may be used when using the RSI indicator. The RSI may be more volatile using a shorter period of time. Many traders keep an eye on the 30 and 70 marks on the RSI scale. A move above 70 is widely considered to show the stock as overbought, and a move below 30 would indicate that the stock may be oversold. Traders may use these levels to help identify stock price reversals.

Some traders may be employing technical analysis to try and conquer the market. There are plenty of various indicators that traders can use. Studying different technical indicators can provide some good insight, but the individual investor may want to start by focusing on a few different popular ones. Deciding which indicators to use may require a significant amount of homework. Trying to track too many signals at first might not be the best idea, and it may even create more confusion. Once the indicators have been chosen, traders may spend a good amount of time back testing strategies before making some trades.