United

Resistance

Million

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>EOG stock price slid 1.44% in the last trading session and is currently trading at $129.80.</a> </li> 
 <li> <span>2</span> <a>EOG Resources’ share price (NYSE: EOG) is good value based on its Price-To-Earnings Ratio (8.7x) compared to the peer average (14.9x).</a> </li> 
</ul> 
<p>EOG Resources (NYSE: EOG) is an energy company that engages in the exploration, development, production, and marketing of crude oil and natural gas. It is one of the largest independent oil and gas producers in the United States.</p> 
<p>EOG Resources Company reported its second-quarter earnings on August 3, 2023. It beat the consensus estimates for both revenue and earnings. It posted revenue of $5.57 Billion, up 25% year-over-year, and earnings of $2.49 per share, up 9% year-over-year.</p> 
<p>EOG Resources’ share price currently trades at $129.80, declining 1.44% in the last trading session. EOG&nbsp; stock holds a market cap of $75.6 Billion. It has a total of 584.85 Million shares outstanding. The PE ratio for the stock is 8.7. The price-to-sales ratio of the stock is 2.96.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/8GoUJ1cV08Uw4HAt3NNvn1KWc1QABxg1_ROKjVjc4YTqbyJnGE0AFZaApvrWt69w_DJbGqUnyB9w6WpViuB0AIwnoSaXA3ek3EzdWAJH-yt_ygZu9VpwJ809KCqaCoJP8obqHDBBLpdz-sjGfFcqUAY" alt="EOG&nbsp; Stock Price Prediction: Can Results Halt The Momentum?"> 
  <figcaption class="wp-element-caption">
    Source: barchart.com 
  </figcaption> 
 </figure> 
</div> 
<p>EOG&nbsp; stock derivatives data states that the current Implied volatility in the market is 26.85% with a decrement of 4.16% in the last trading session. It has a total of 147.79K open interest contracts as of now. The PUT/CALL ratio is 0.86 indicating a mild bullish sentiment in the market as per the data.</p> 
<h2 class="wp-block-heading" id="strong-eog-stock-price-prediction-using-price-action-strategy-strong"><strong>EOG&nbsp; Stock Price Prediction Using Price Action Strategy</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/j1j3d-nen-uGvX-rKpayW5EmXSanhE1ZcWimhyl6lTVXnMUHJHuIyUnwXLoraVVze4AEshAU0ZSJXtETzvOc_gHO2rZYMH1VBnSdF21HXnXGWXpodewau_GcoNkMu2RdzqQAkaabNcmFlbDDdHueft4" alt="EOG&nbsp; Stock Price Prediction: Can Results Halt The Momentum?"> 
  <figcaption class="wp-element-caption">
    Source: EOG Resources. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>EOG&nbsp; share price analysis reveals that the stock price has been rising since May 2023, after bottoming out followed by a breakout of an upper trendline resistance. The price again made a dip suffering rejection from the 200 EMA but ended up forming a higher low and the stock surged higher.&nbsp;</p> 
<p>The stock showed a pre-result effect and made one-way momentum to reach the $130 mark before the results.</p> 
<p>However, the disclosure of results on the past day affected the price to open a gap-up followed by a profit booking thus dragging the price down by 1.44% to close the price at $129.80.&nbsp;</p> 
<p>Now that the stock has surged nearly 25% without showing any pullback. hence, the profit booking may continue and the price may slide up to its nearest support zone at $122.81 from where it may gain momentum again.</p> 
<h3 class="wp-block-heading" id="strong-eog-share-price-forecast-from-indicators-point-of-view-strong"><strong>EOG&nbsp; Share Price Forecast from Indicators’ point of view</strong></h3> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/XEUrXB4y2PnFkluWJqg9xN0ktToCm1ZvLha51UTuGOmVjnwHPhOPWJGbkiM2UXBYAYg-4YY2XACCXDi42WYoXdvNsO-5AE0BqaoZVIZMduaBb12bD9GdkQKKw1t9Qa6zMGIRooncIkFx7IuTmQr63mg" alt=""> 
  <figcaption class="wp-element-caption">
    Source: EOG Resources. 1D. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>As per the EMA analysis, the EOG <a href="https://www.thecoinrepublic.com/?p=156938&amp;preview=true" target="_blank" rel="noopener noreferrer nofollow">stock price</a> is trading above both the 50 and 200 EMA showing bullish sentiment in the long-term as well as short-term.</p> 
<p>At the time of publishing, the RSI value of the EOG&nbsp; share price is 63.92 and that of the SMA line is 69.12. RSI has made a breakdown of the SMA line indicating the continuation of the profit booking.</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>EOG stock price prediction concludes that the stock price has been rising since May 2023, after breaking out of a downtrend. The price dipped briefly below the 200 EMA but made a higher low and surged higher. The price reached $130 before the results, but opened higher and then declined by 1.44% to close at $129.80. The price may continue to fall due to profit booking and test the support zone at $122.81, where it may bounce back.&nbsp;</p> 
<p>Also, The future performance of EOG’s stock may depend on various factors, such as oil and gas prices, production volumes, operating costs, capital expenditures, dividends, acquisitions, and market conditions.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support levels:</strong> $122.81 and $111.21.</li> 
 <li><strong>Resistance levels:</strong> $136.6 and $149.97.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

EOG Stock Price Prediction: Can Results Halt The Momentum?

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