EOG - Reading the Charts in Eog Resources to Generate Trading Plans

When we read the charts for Eog Resources (NYSE: EOG) we are able to reach conclusion that are not otherwise discernable.  We can see where buy signals exist, where sell signals exist, and where risk controls should be implemented.  These are what create trading plans.  The example here is for EOG and it demonstrates this practice.  This data is current, but it is not real time. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports .

Technical Summary

Long Term Trading Plans for EOG

April 13, 2021, 1:30 pm ET

The Technical Summary and Trading Plans for EOG help you determine where to buy, sell, and set risk controls. The data is best used in conjunction with our Market Analysis and Stock Correlation Filters too, because those help us go with the flow of the market as well. Going with the flow is extremely important, so review our Market Analysis with this EOG Report.

EOG - (Long) Support Plan

The technical summary data tells us to buy EOG near 60.96 with an upside target of 72.56. This data also tells us to set a stop loss @ 60.78 to protect against excessive loss in case the stock begins to move against the trade. 60.96 is the first level of support below 70.56 , and by rule, any test of support is a buy signal. In this case, support 60.96 is being tested, a buy signal would exist.

EOG - (Short) Resistance Plan

The technical summary data is suggesting a short of EOG as it gets near 72.56 with a downside target of 60.96. We should have a stop loss in place at 72.77though. 72.56 is the first level of resistance above 70.56, and by rule, any test of resistance is a short signal. In this case, if resistance 72.56 is being tested, a short signal would exist.