Hess Corporation is a global integrated energy company that explores, develops, produces, transports and sells crude oil and natural gas.

In the fourth quarter, the group has published an unexpected loss of $ 131 million, $0.39 percent a share compared with earnings of $58 million, a year earlier. Revenue increased 1.5% to$8.8 billion. Therefore, Hess Corp. have been increasing spending to fund exploration programs and the development of shale-gas properties in the US. Furthermore, the company has unveiled plans to close Hovensa LLC refinery due to beset industry by stagnant fuel demand and thinning profit margins.

Technically, the share has risen by 19.4% reaching the $65.65 resistance line. Stock might fail to sustain a bullish trend. It has already failed two times as resistance line approached.
In weekly data, Hess Corp’s stock is also on long-term resistance, a convergent point with the 50 periods moving average.

In this context, investors could take a short position at the current price to target the $61, level of 20-days moving average. However, a stop-loss should be fixed at $ 67.