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Look for Shares of Eog Resources to Potentially Rebound after Yesterday's 3.46% Sell Off

By James Quinn

Eog Resources (NYSE:EOG) traded in a range yesterday that spanned from a low of $47.97 to a high of $49.45. Yesterday, the shares fell 3.5%, which took the trading range below the 3-day low of $48.46 on volume of 2.3 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Eog Resources has traded in a range of $27.00 to $96.01 and is now at $48.01, 78% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 1.6%.

SmarTrend is tracking the current trend status for Eog Resources and will alert subscribers who have EOG in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders EOG Resources

Ticker(s): EOG