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Watch for Eog Resources to Potentially Pullback After Gaining 1.43% Yesterday

By Amy Schwartz

Eog Resources (NYSE:EOG) traded in a range yesterday that spanned from a low of $86.83 to a high of $87.36. Yesterday, the shares gained 1.4%, which took the trading range above the 3-day high of $86.66 on volume of 1.0 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 $64.33 and a high of $107.89 and are now at $87.23, 36% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.2% while the 50-day MA has advanced 1.3%.

SmarTrend recommended that subscribers consider buying shares of Eog Resources on October 25th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $72.00. Since that recommendation, shares of Eog Resources have risen 20.5%. 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