Hess Midstream Forms Death Cross, Signaling Potential Bearish Trend Ahead

Hess Midstream LP, a small-cap player in the oil industry, has recently experienced a technical event known as a Death Cross. This occurs when a stock's short-term moving average crosses below its long-term moving average, often signaling a potential shift in market sentiment. The implications of this event can be significant, as it may indicate a bearish trend in the stock's performance.
Currently, Hess Midstream LP's technical indicators reflect a predominantly bearish outlook. The Moving Average Convergence Divergence (MACD) is bearish on a weekly basis and mildly bearish on a monthly basis, while the Relative Strength Index (RSI) shows no signals for both time frames. Additionally, Bollinger Bands and the KST indicator also suggest bearish trends.

In terms of performance, Hess Midstream LP has faced challenges, with a one-year decline of 8.64%, significantly underperforming the S&P 500, which has gained 17.43% over the same period. The stock's year-to-date performance is down 11.53%, further highlighting its struggles in the current market environment. Investors will be closely monitoring these trends as they assess the company's future trajectory.