Hess Corp To Enjoy The Looming Energy Deficit
EWM Interactive | Jan 04, 2022 03:33AM ET
The world has finally awakened to the looming triangle . According to the theory, once a correction is over, the preceding trend resumes.
And indeed, as the world economy began to reopen in the second half of 2020, energy was suddenly in short supply. The price of WTI crude oil climbed to $85 a barrel and Hess stock climbed with it. By October 2021, the stock was already approaching $93 a share, up nearly 260% from its 2020 bottom.
Furthermore, this surge is shaped as a five-wave impulse pattern , labeled 1-2-3-4-5. Impulses point in the direction of the larger trend, so once wave (2) is over, it would make sense to expect more long-term upside. Eventually, a new all-time high is there for the taking for Hess Corp. investors.
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