EOG Resources (EOG) Offering Possible 127.27% Return Over the Next 24 Calendar Days

EOG Resources's most recent trend suggests a bearish bias. One trading opportunity on EOG Resources is a Bear Call Spread using a strike $102.00 short call and a strike $107.00 long call offers a potential 127.27% return on risk over the next 24 calendar days. Maximum profit would be generated if the Bear Call Spread were to expire worthless, which would occur if the stock were below $102.00 by expiration. The full premium credit of $2.80 would be kept by the premium seller. The risk of $2.20 would be incurred if the stock rose above the $107.00 long call strike price.

The 5-day moving average is moving down which suggests that the short-term momentum for EOG Resources is bearish and the probability of a decline in share price is higher if the stock starts trending.

The 20-day moving average is moving down which suggests that the medium-term momentum for EOG Resources is bearish.

The RSI indicator is at 47.89 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for EOG Resources

Which Oil-Weighted Stocks Are Outdoing Oil’s Fall?
Fri, 23 Nov 2018 14:35:02 +0000
On November 14–21, our list of oil-weighted stocks fell 0.6%—compared to the 3.2% fall in US crude oil January futures. On average, our list of oil-weighted stocks outperformed US crude oil prices.

Stock Market News For Nov 23, 2018
Fri, 23 Nov 2018 14:30:02 +0000
Wall Street closed mostly higher on Wednesday buoyed by a partial recovery for energy stocks which have been the worst performers recently

What to Expect from Oil-Weighted Stocks
Fri, 23 Nov 2018 13:03:02 +0000
On November 21, US crude oil January futures rose 2.2% and closed at $54.63 per barrel. The market’s hope for a production cut agreement in OPEC’s meeting on December 6 might have helped oil prices to rise despite a buildup in the inventory. On November 21, the U.S. Energy Information Administration reported a rise of 4.9 MMbbls (million barrels) in US crude oil inventories last week compared to Reuters’ poll for a rise of 2.9 MMbbls.

EIA Inventory Data Might Further Escalate Oil’s Trouble
Tue, 20 Nov 2018 19:00:02 +0000
In the week ending on November 9, US crude oil inventories were 5% above their five-year average, two percentage points more than the previous week. Oil prices and the inventories spread usually move inversely, as you can see in the following chart. If the inventories spread expands further into positive territory, it might drag down oil prices in the coming weeks. The inventories spread is the difference between inventories and their five-year average.

ConocoPhillips: Jim Ratcliffe Eyes Assets in the United Kingdom
Tue, 20 Nov 2018 14:56:57 +0000
On November 19, ConocoPhillips (COP) confirmed to CNBC that it has been engaged in talks with Jim Ratcliffe, the United Kingdom’s wealthiest man and Ineos’ CEO, about selling its assets in the United Kingdom. The deal could fetch ~$3 billion for ConocoPhillips.

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