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Look for Shares of Eog Resources to Potentially Pullback after Yesterday's 3.14% Rise

By Shiri Gupta

Eog Resources (NYSE:EOG) traded in a range yesterday that spanned from a low of $122.00 to a high of $125.49. Yesterday, the shares gained 3.1%, which took the trading range above the 3-day high of $121.87 on volume of 2.4 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Eog Resources share prices have been bracketed by a low of $78.04 and a high of $125.49 and are now at $125.25, 60% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 1.2%.

SmarTrend recommended that subscribers consider buying shares of Eog Resources on April 11th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $108.54. Since that recommendation, shares of Eog Resources have risen 11.9%. We continue to monitor EOG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: rebounders EOG Resources

Ticker(s): EOG