Shares of independent energy name Hess Corp. (HES) have been in a strong advance since early 2020. The stock made a new high for the move up Wednesday so let's check the charts and indicators for some upside price targets.
In the daily bar chart of HES, below, we can see an uptrend unfolding the past 12 months. The shares have made higher lows and higher highs -- the simple definition of an uptrend. HES trades above the rising 50-day moving average line and the rising 200-day moving average line.
The On-Balance-Volume (OBV) line has moved sideways since April but is close to making a new high for its move up. The trend-following Moving Average Convergence Divergence (MACD) oscillator is in a bullish alignment above the zero line.