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AI Analysis of EOG
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EOG Resources stock upgraded to Buy Candidate.
(Updated on Apr 11, 2024)

Buy or Hold candidate since Mar 19, 2024 Gain 10.13% PDF

The EOG Resources stock price fell by -0.493% on the last day (Thursday, 11th Apr 2024) from $137.95 to $137.27. During the last trading day the stock fluctuated 1.98% from a day low at $135.05 to a day high of $137.72. The price has risen in 8 of the last 10 days and is up by 8.61% over the past 2 weeks. Volume has increased on the last day by 62 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 3 million shares were bought and sold for approximately $460.00 million.

The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $138.36 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 22.03% during the next 3 months and, with a 90% probability hold a price between $152.73 and $168.84 at the end of this 3-month period.

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EOG Signals & Forecast

The EOG Resources stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $135.93 and $124.01. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -0.493%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.

Support, Risk & Stop-loss for EOG Resources stock

On the downside, the stock finds support just below today's level from accumulated volume at $116.40 and $115.83. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, EOG Resources finds support just below today's level at $116.40. If this is broken, then the next support from accumulated volume will be at $115.83 and $111.86.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $2.68 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 1.59%.

The EOG Resources stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.

Our recommended stop-loss: $133.72 (-2.59%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 80 and this increases the risk substantially. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (EOG) For The Upcoming Trading Day Of Monday 15th

For the upcoming trading day on Monday, 15th we expect EOG Resources Inc to open at $136.68, and during the day (based on 14 day Average True Range), to move between $135.10 and $139.44, which gives a possible trading interval of +/-$2.17 (+/-1.58%) up or down from last closing price. If EOG Resources Inc takes out the full calculated possible swing range there will be an estimated 3.16% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $137.95 (0.50%) than the support at $116.40 (15.20%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is EOG Resources Inc stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for EOG Resources stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

Current score: 1.365 Buy Candidate Upgraded

Predicted Opening Price for EOG Resources Inc of Monday, April 15, 2024

Fair opening price April 15, 2024 Current price
$136.68 ( 0.431%) $137.27

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for EOG

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 139.35 1.52 %
R2 138.33 0.773 %
R1 137.70 0.313 %
Current price: 137.27
Support S1 135.66 -1.18 %
S2 135.03 -1.64 %
S3 134.00 -2.38 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 137.95 0.495 %
Current price 137.27
Support S1 116.40 -15.20%
S2 115.83 -15.62%
S3 111.86 -18.51%

EOG Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Feb 22, 2024 Apr 15, 2024 Apr 30, 2024 $0.91 0.663%
2 Nov 02, 2023 Jan 16, 2024 Jan 31, 2024 $0.91 0.800%
3 Nov 02, 2023 Dec 14, 2023 Dec 29, 2023 $1.50 1.24%
4 Aug 03, 2023 Oct 16, 2023 Oct 31, 2023 $0.83 0.653%
5 May 04, 2023 Jul 14, 2023 Oct 31, 2023 $0.83 0.653%

FAQ

What is the symbol for EOG Resources Stock and on which exchange is it traded?
The symbol for EOG Resources is EOG and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell EOG Resources Stock?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for EOG Resources stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.

How to buy EOG Resources Stock?
EOG Resources Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy EOG Resources Stock.

What's the current price of EOG Resources Stock?
As of the end of day on the 2024-04-11, the price of an EOG Resources (EOG) share was $137.27.

What is the 52-week high and low for EOG Resources Stock?
The 52-week high for EOG Resources Stock is $138.41 and the 52-week low is $106.32.

What is the market capitalization of EOG Resources Stock?
As of the 2024-04-11, the market capitalization of EOG Resources is 78.468B.

When is the next earnings date for EOG Resources?
The upcoming earnings date for EOG Resources is May 02, 2024.
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About EOG Resources Inc

EOG Resources EOG Resources, Inc., together with its subsidiaries, explores for, develops, produces, and markets crude oil, and natural gas and natural gas liquids. Its principal producing areas are in New Mexico and Texas in the United States; and the Republic of Trinidad and Tobago. As of December 31, 2021, it had total estimated net proved reserves of 3,747 million barrels of oil equivalent, including 1,548 million barrels (MMBbl) of crude oil and condensat... EOG Profile

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