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Watch for EOG Resources to Potentially Pullback After Gaining 1.56% Yesterday
Mar 07, 2013 (SmarTrend(R) News Watch via COMTEX) --
EOG Resources (NYSE:EOG) traded in a range yesterday that spanned from a low of $125.37 to a high of $128.23. Yesterday, the shares gained 1.6%, which took the trading range above the 3-day high of $125.95 on volume of 1.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, shares of EOG Resources have traded between a low of $82.48 and a high of $138.20 and are now at $127.56, which is 55% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has remained constant.
SmarTrend is monitoring the recent change of momentum in EOG Resources. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of EOG Resources in search of a potential trend change.
Write to Chip Brian at cbrian@mysmartrend.com
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