EOG trade ideas
EOG Breakout, Target 115Trend Analysis
The main view of this trade idea is on the 2-Hour Chart. The stock EOG displayed 2 bullish instances over the last couple of months. The first occurred during July to September 2021 where the stock made a reverse head and shoulders chart pattern. The completion of this move took EOG back above its long term trend. The 2nd instance materialized when EOG approached the June 2021 resistance at around the 88.25 price level. It appears that the stock has broken above this resistance. Expectations are for EOG to rally towards the 115 price level. Failure of this will be known if EOG declines back below 88.25
On the Daily Chart EOG appears to be making another leg higher, with resistance seen around 115.
Technical Indicators
EOG is trading above its long term MA and the Supertrend is in bullish mode, complementing the bullish nature of the chart. The Awesome Oscillator is above 0 and green.
Recommendation
The recommendation will be to go long at market, with a stop loss at 87.50 and a target of 115. This produces a risk/reward ratio of 2.62.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
EOGYou can see very good upside potential for the stock. There is a breakthrough of a small inclined channel, you only need to secure it. An average growth of 13-15% can be expected. And for 2022, the oil sector is in the top growth for many investors. Also, the rise in oil prices for investment banks remains. From the point of view of a positive outlook, everything is fine
There are also good dividends here.
12/13/21 Morgan Stanley maintains equal weight 121.0
11/30/21 Mizuho Supports Purchase 127.0
11/19/21 Wells Fargo remains 109.0 overweight
Nov 19, 21 Morgan Stanley maintains equal weight 122.0
11/05/21 B of A Securities price increase Buy 110.0
11/05/21 Credit Suisse maintains outperforming dynamics of 105.0
11/03/21 Benchmark initiates coverage on purchase 117.0
03/11/21 Keybanc keeps 102.0 overweight
Cup and Handle/Earnings Today AMCEarnings after market closes today. This moves with oil.
Looks like they are expected to beat estimates, but even if they do, a lot depends on how well the news is received.
Price is a ways above the 50 SMA. The 50,100 and 200 as well as the 20 are sloping up with bullish moving average crossovers noted.
Appears to be a Bull Flag but a flag is a consolidation pattern, a pull back pattern as well and can break up or down.
No recommendation.
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; the Republic of Trinidad and Tobago; the People's Republic of China; and the Sultanate of Oman. As of December 31, 2020, it had total estimated net proved reserves of 3,220 million barrels of oil equivalent, including 1,514 million barrels (MMBbl) of crude oil and condensate reserves; 813 MMBbl of natural gas liquid reserves; and 5,360 billion cubic feet of natural gas reserves. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.
ABC BullishEarnings are tomorrow mid day.
Negative volume is very high on EOG which can indicate smart money interest.
EOG broke up from a symmetrical triangle and then became tied up in a bearish rising and narrowing wedge like most of this industry did for a while. Too much buying so supply and demand were interrupted.
The 200 is sloping up so long term outlook is doing well right now. The 50 appears to be struggling but the 50, 100 and 200 moving averages are in chronological order for now with the 50 on top.
PE is 10.99 EPS 7.08. Yield 2.3% and short interest is low. I suppose if you are negative on oil, this is not for you.
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; the Republic of Trinidad and Tobago; the People's Republic of China; and the Sultanate of Oman. As of December 31, 2020, it had total estimated net proved reserves of 3,220 million barrels of oil equivalent, including 1,514 million barrels (MMBbl) of crude oil and condensate reserves; 813 MMBbl of natural gas liquid reserves; and 5,360 billion cubic feet of natural gas reserves. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.
No recommendation.
ABC is a corrective pattern with target being D. Targets are calculated using the AB leg and fib levels. Possible stop under C
Bull FlagEOG is also forming a slow cup over the weekly time frame.
EOG was in a rising wedge when I saw the flag a week or 2 ago. I hesitated because often rising wedges will win the battle over flags and ascending triangles etc. Anyway, EOG proceeded to break the bottom trendline of the rising wedge but appears to have recovered. This caused a throwback to the flag pattern.
Rising wedges are bearish and valid once the bottom trendline is broken. They usually eventually break down, although I have seen some securities break to the upside from a rising wedge (RW). CRM did this when inducted in to the DOW. I have not seen a security that has not come back down to meet and break the bottom trendline of the wedge eventually though and it is a long painful process as a rule. I do not follow every security, of course, so I never say never.
Rising wedges consist of 2 trendlines that both slope up and converge at the apex.
After a fall, many like to wait for a bullish signal or a consolidation to provide support before entering. There is a morning star which helped mark the bottom, or the turn around point for EOG. This consists of a decent size red candle in a downtrend, then a small bodied candle of any color, followed by a decent side green candle. The body of the 2nd candle, should gap down a bit from both the red and green candle bodies.
No recommendation.
The ability to learn, unlearn and relearn can be a superpower (o:
OG 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; the Republic of Trinidad and Tobago; the People's Republic of China; and the Sultanate of Oman. As of December 31, 2020, it had total estimated net proved reserves of 3,220 million barrels of oil equivalent, including 1,514 million barrels (MMBbl) of crude oil and condensate reserves; 813 MMBbl of natural gas liquid reserves; and 5,360 billion cubic feet of natural gas reserves. The company was formerly known as Enron Oil & Gas Company. EOG Resources, Inc. was incorporated in 1985 and is headquartered in Houston, Texas.
EOG Buying Opportunity on Next PullbackWith the concentration/rotation into the energy sector, I am looking for names that have longevity and have survived market volatility similar to the financial crisis in the mid 2000s. With tons of FCF, increasing ESG programs, a recently declared "Special" $1 dividend, a lot of PT raises close to $100, I like EOG in this sector.
I used a Fib Channel to show the trend support. I think if it can pull back between the 42.22-48.93 levels with a lower RSI/CCI, it'll be a long for me.
EOG RESOURCES Offer DailyHey guys, EOG RESOURCES is in a bullish movement with a return of volume in buy and two wicks indecision. By leaning on the TIMEFRAME M1 we see a variant with a large volume of purchase which has pierced the equilibrium zone then the closing is to land on the zone. Great potential to break out the price and at the same time breakout the equilibrium zone to reach a new one. It will go to its next higher (View on MULTI TIMEFRAME) and check on the H4 then go below several including Three level to pass on the TIMEFRAME H1.
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