EOG Resources Stock Forecast
EOG Resources stock upgraded from Sell Candidate to Hold/Accumulate after Tuesday trading session.
(Updated on May 07, 2024)
The EOG Resources stock price fell by -0.169% on the last day (Tuesday, 7th May 2024) from $130.48 to $130.26. During the last trading day the stock fluctuated 1.02% from a day low at $130.18 to a day high of $131.51. The price has been going up and down for this period, and there has been a -3.37% loss for the last 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -624 thousand shares and in total, 3 million shares were bought and sold for approximately $387.33 million.
Given the current short-term trend, the stock is expected to rise 22.81% during the next 3 months and, with a 90% probability hold a price between $159.98 and $179.82 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EOG Signals & Forecast
There are few to no technical positive signals at the moment. The EOG Resources stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $131.56 and $131.89. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, April 10, 2024, and so far it has fallen -5.57%. 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). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for EOG Resources stock
EOG Resources finds support from accumulated volume at $130.02 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $1.33 between high and low, or 1.02%. For the last week the stock has had daily average volatility of 1.90%.
Our recommended stop-loss: $124.72 (-4.25%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 19 days ago.)
Trading Expectations (EOG) For The Upcoming Trading Day Of Wednesday 8th
For the upcoming trading day on Wednesday, 8th we expect EOG Resources Inc to open at $130.65, and during the day (based on 14 day Average True Range), to move between $127.68 and $132.84, which gives a possible trading interval of +/-$2.58 (+/-1.98%) up or down from last closing price. If EOG Resources Inc takes out the full calculated possible swing range there will be an estimated 3.96% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $130.48 (0.17%) than the support at $130.02 (0.18%), 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?
EOG Resources holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: 0.154 Hold/Accumulate Upgraded
Predicted Opening Price for EOG Resources Inc of Wednesday, May 8, 2024
| Fair opening price May 8, 2024 | Current price |
|---|---|
| $130.65 ( 0.299%) | $130.26 |
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 | 131.98 | 1.32 % | |
| R2 | 131.47 | 0.93 % | ||
| R1 | 131.16 | 0.689 % | ||
| Current price: | 130.26 | |||
| Support | S1 | 130.14 | -0.0906 % | |
| S2 | 129.83 | -0.332 % | ||
| S3 | 129.32 | -0.722 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 132.24 | 1.52 % | |
| R2 | 131.80 | 1.18 % | ||
| R1 | 130.48 | 0.169 % | ||
| Current price | 130.26 | |||
| Support | S1 | 130.02 | -0.184% | |
| S2 | 115.83 | -11.08% | ||
| S3 | 111.86 | -14.13% |
EOG Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 02, 2024 | Jul 17, 2024 | Jul 31, 2024 | $0.91 | 0.699% |
| 2 | Feb 22, 2024 | Apr 15, 2024 | Apr 30, 2024 | $0.91 | 0.689% |
| 3 | Nov 02, 2023 | Jan 16, 2024 | Jan 31, 2024 | $0.91 | 0.800% |
| 4 | Nov 02, 2023 | Dec 14, 2023 | Dec 29, 2023 | $1.50 | 1.24% |
| 5 | Aug 03, 2023 | Oct 16, 2023 | Oct 31, 2023 | $0.83 | 0.653% |
FAQ
Click here for our free guide on how to buy EOG Resources Stock.
