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After Yesterday's Rally of 1.16% Shares Could Potentially Pullback

By Amy Schwartz

Eog Resources (NYSE:EOG) traded in a range yesterday that spanned from a low of $89.13 to a high of $89.60. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $88.53 on volume of 1.5 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Eog Resources has traded in a range of $82.04 to $133.53 and is now at $89.60, 9% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.5% while the 50-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Eog Resources on February 7th, 2019 by issuing a Downtrend alert when the shares were trading at $93.75. Since that call, shares of Eog Resources have fallen 5.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders EOG Resources

Ticker(s): EOG