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Advanced TA SearchArchive
- 5/10/2024 -
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EOG Resources (EOG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the EOG Resources (EOG). During the week, the EOG climbed 0.08 points, or 0.06%, and closed at 130.10 on Friday, May 10, 2024. EOG was trading at average weekly trading volume.
EOG is a member of Energy Sector. Energy is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See EOG long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 27.00 and reached 150.88 on November 4, 2022. EOG gained -123.88 points, or -458.81%, in 137 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (126.03) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See EOG medium-term trend chart]
A medium-term uptrend had started on January 19, 2024 at 108.94 and reached 139.67 on April 12, 2024. EOG gained -30.73 points, or -28.21%, in 12 weeks. The price is now at the 31.14% retracement level.
 Weekly Technical Indicators: [See EOG weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See EOG short-term trend chart]
A short-term downtrend had started on April 29, 2024 at 136.50 and reached 128.24 on May 3, 2024. EOG lost 8.26 points, or 6.05%, in 4 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See EOG daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 12, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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