Tag: EOG Resources

EOG Resources Stock Code EOG.NYS

Outlook

Price broke above the cloud in the previous trading session, changing the chart outlook to bullish. Lagging Span is above price of 26 days ago but is inside the cloud, hinting at a weak bullish price trend. However, MACD has a bullish crossover and is hinting at a bullish price trend ahead.  If price can stay above the cloud, it could be heading towards the next price resistance at $144.84 in the next 2-3 weeks.

Strategy                  

$134.10              Buy

$144.80              Price Target

$128.60              Risk Management Stop

3 weeks              Trade Duration

EOG Resources Inc. Stock Code EOG.NYS

Outlook

Price tested the cloud but has not been able to move above the cloud. As a result, the chart outlook remains bearish. If price continues to be capped by the cloud and the conversion line, it could be heading lower in the next 2-3 weeks ahead. Conversion and base lines had a bearish crossover earlier, hinting at a bearish price trend. Lagging Span is below price of 26 days ago but is inside the cloud.  MACD has turned bearish with both lines below the zero line. We think price is likely to move lower to the next price support at $95.82

Strategy                  

$112.00              Sell

$95.85                Price Target

$119.10              Risk Management Stop

3 weeks              Trade Duration

EOG RESOURCES Stock Code EOG.NYS

Outlook

Price reached a high at $129.09 on 29 August and went into a decline after that high. During the price correction, price was supported by the thick cloud and managed to stay within the cloud, keeping the uptrend intact. Conversion line and Base line remained in a bullish crossover, hinting at a bullish price trend ahead. Lagging Span is above price of 26 days ago but is inside the cloud at the moment.  MACD is bullish with both its lines above the zero line. If price can stay above gap support and cloud support, it could be heading towards the next gap resistance at $136.74.

Strategy                  

$123.40              Buy

$136.70              Price Target

$118.10              Risk Management Stop

3 weeks              Trade Duration

EOG Resources Inc.  Stock Code EOG.NYS

Outlook
Price broke above $39.85 to form an Ichimoku reversal, which is a confirmation of a reversal in price trend, on 10 November. However, price was unable to break above the cloud. A pullback followed but price was able to halt its decline before the gap support at $39.10. As long as price stays above this gap, the price trend is bullish. Conversion and Base lines had a bullish crossover earlier, hinting of a bullish trend. Lagging Span is above price of 26 days ago but is below the cloud at the moment. MACD has a bullish crossover which is a hint of a bullish price trend ahead. MACD is moving above the zero line which is also a hint of a price bullish trend ahead. As long as price can hold above the gap support at $37.10, we think price is likely to move higher towards the next resistance point at $52.43.

Strategy                  
$42.80                Buy
$52.40                Price Target
$37.05                Risk Management Stop
3 weeks              Trade Duration