Hess Corp. (NYSE: HES)

Hess Corporation, an exploration and production company, develops, produces, purchases, transports, and sells crude oil, natural gas liquids, and natural gas. The company primarily operates in the United States, Denmark, Equatorial Guinea, the Joint Development Area of Malaysia/Thailand, Malaysia, and Norway. As of December 31, 2014, it had total proved reserves of 1,431 million barrels of oil equivalent.
Take a look at the 1-year chart of Hess (NYSE: HES) below with my added notations:

Overall, HES has been trending lower for the past 12 months. During the stock’s decline it has had a tendency to create key levels at the increments of $5 (red). For example, the current level of resistance is $60. Next, you can see that $65 was the previous support back in June, while recently the $50 and $55 levels have both been tested as support.

The Tale of the Tape: HES is approaching its key level of $60. A long trade could be made on a break above that level with a stop placed under it. Or, a short trade could be made at $60 with the expectation of a fall down to the next $5 level at $55.