EOG Resources Stock Forecast
EOG Resources stock price ended at $135.70 on Friday, after gaining 0.251%.
(Updated on Apr 26, 2024)
The EOG Resources stock price gained 0.251% on the last trading day (Friday, 26th Apr 2024), rising from $135.36 to $135.70. During the last trading day the stock fluctuated 1.51% from a day low at $134.36 to a day high of $136.39. The price has risen in 6 of the last 10 days and is up by 0.3% over the past 2 weeks. Volume fell on the last day by -2 million shares and in total, 2 million shares were bought and sold for approximately $204.36 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 25.85% during the next 3 months and, with a 90% probability hold a price between $166.77 and $180.79 at the end of this 3-month period.
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EOG Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -1.63%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 $134.33 and $129.96. A breakdown below any of these levels will issue sell signals. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched 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.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $2.03 between high and low, or 1.51%. For the last week the stock has had daily average volatility of 2.03%.
Our recommended stop-loss: $130.62 (-3.74%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (EOG) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect EOG Resources Inc to open at $135.48, and during the day (based on 14 day Average True Range), to move between $133.18 and $138.22, which gives a possible trading interval of +/-$2.52 (+/-1.86%) up or down from last closing price. If EOG Resources Inc takes out the full calculated possible swing range there will be an estimated 3.72% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $135.94 (0.18%) than the support at $116.40 (14.22%), 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.
Earnings coming up
EOG Resources will release earnings AMC on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is $2.75. We will update the financials statements for EOG Resources, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 3.48% in the first trading day after earnings release.
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.
Current score: 2.139 Buy Candidate Unchanged
Predicted Opening Price for EOG Resources Inc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $135.48 ( 0.160%) | $135.70 |
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 | 137.51 | 1.34 % | |
| R2 | 136.74 | 0.765 % | ||
| R1 | 136.26 | 0.412 % | ||
| Current price: | 135.70 | |||
| Support | S1 | 134.71 | -0.731 % | |
| S2 | 134.23 | -1.08 % | ||
| S3 | 133.45 | -1.66 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 137.95 | 1.66 % | |
| R2 | 137.27 | 1.16 % | ||
| R1 | 135.94 | 0.177 % | ||
| Current price | 135.70 | |||
| Support | S1 | 116.40 | -14.22% | |
| S2 | 115.83 | -14.64% | ||
| S3 | 111.86 | -17.57% |
EOG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.91 | 0.671% |
| 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
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