HollyFrontier’s moving averages

HollyFrontier (HFC) stock has fallen 18% in the second quarter. A weak refining environment weakened impacted HFC stock in the fourth quarter, causing its 50 DMA (day moving average) to break below its 200 DMA. A shorter-term DMA breaking below a longer-term DMA is considered a bearish sign. However, HFC stock recovered partially in this year’s first quarter, led by the company’s better-than-expected fourth-quarter earnings.

What HollyFrontier’s Moving Averages Suggest

HollyFrontier’s second-quarter moving averages

HollyFrontier’s first-quarter earnings were weak, and vital oil spreads’ contraction this quarter has impacted HFC stock. However, some refining crack indicators have improved, partially supporting the stock.

HollyFrontier’s 50 DMA has fallen 16%, widening the gap between its 50 DMA and 200 DMA from 14% below at the start of Q2 2019 to 20% below. As a wider gap makes it more difficult for HFC’s 50 DMA to cross over its 200 DMA, HFC stock appears to be far from being in a technically bullish zone. Marathon Petroleum’s (MPC), PBF Energy’s (PBF), and Phillips 66’s (PSX) 50 DMAs are 15%, 18%, and 8% below their 200 DMAs, respectively.

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