EOG moving in Range- Range trading
- Playing Support and resistance
- Safe entry will be once the level 134.4 breaks
Entry Level(Buy Limit): 103.54
Stop Loss Level: 93.89
Take Profit Level 1: 113.19
Take Profit Level 2: 122.84
EOG
EOG Potential buy setupReasons for bullish bias:
- Price has made double bottoms
- Entry is at neckline breakout for confirmation
- Entry is also above strong weekly Support turn resistance, if it breaks we will have more points on our side
Entry Level(Buy stop): 117.79
Stop Loss Level: 108.15
Take Profit Level 1: 127.43
Take Profit Level 2: 132.34
EOG: Possible BuyPrice has climbed back inside the trend lines, expecting upside. Areas plotted to look out for, combined with daily and weekly moving averages.
OIL: Expected to rebound to $80
The oil price also rose nearly $2 under the stimulus of data, reaching a high near $77. On the 30-minute chart, oil underwent a wave of pullback after consolidating near 76.6, and its current position is the previous consolidation level, which has some resistance but not strong. The short-term strong resistance should be around 77.4.
From a technical standpoint, the current process resembles the formation of a U-shaped bottom, with the MACD indicator in a crossover state. If a death cross occurs, it means that oil prices will experience a short-term pullback to seek support, which is likely to be around 75.6-76.
On the 4-hour chart, oil has been oscillating within a box range, and the range of 81-82 is a strong pressure level. The MACD indicator has formed a golden cross, and unless there are unexpected events, the oil price is expected to touch near 81 in the near future.
Therefore, I believe that the current focus should be on long positions for oil, with buying points around the support level near 76. The first target is around 78, and the second target is around 80. If it breaks through 80, it can go up to around 82.
The probability of a one-step trend is not high, and oscillating upward is the most likely event. Every pullback after each rise will be a very good long entry point.
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EOG Resources Inc (Long)Enter: Market Price
Take Profit: 127.02 (7.63%)
Stop Loss: 112.09
Price is bouncing off a strong support zone
EOG Resources Options Ahead of EarningsLooking at the EOG Resources options chain ahead of earnings , I would buy the $125 strike price Calls with
2023-3-17 expiration date for about
$2.60 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
Looking forward to read your opinion about it.
EOG - Price Rise ScenarioA chart pattern formation completion upon price movement upward
Third peak must be established
Price has cleared 1.618 of a downtrend circle
Bars pattern is price speculation
Weekly Chart
EOG Breakout, Target 115Trend Analysis
The main view of this trade idea is on the 2-Hour Chart. The stock EOG displayed 2 bullish instances over the last couple of months. The first occurred during July to September 2021 where the stock made a reverse head and shoulders chart pattern. The completion of this move took EOG back above its long term trend. The 2nd instance materialized when EOG approached the June 2021 resistance at around the 88.25 price level. It appears that the stock has broken above this resistance. Expectations are for EOG to rally towards the 115 price level. Failure of this will be known if EOG declines back below 88.25
On the Daily Chart EOG appears to be making another leg higher, with resistance seen around 115.
Technical Indicators
EOG is trading above its long term MA and the Supertrend is in bullish mode, complementing the bullish nature of the chart. The Awesome Oscillator is above 0 and green.
Recommendation
The recommendation will be to go long at market, with a stop loss at 87.50 and a target of 115. This produces a risk/reward ratio of 2.62.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
EOG Looks like EOG has made a cup & handle formation with a breakout and retest of the neckline could be a good opportunity here to ladder into a long position with a stop loss below the neckline
Black Gold is not doneBlack Gold finally broke out from the 3 month cup handle pattern as mentioned last week! Although weekly chart was showing bearish, it was a bullish flag because the lows never broke. This week the momentum continues upward possibly in a big way. Extremely Bullish! Once it breaks 56.75, 59 will be the next target. XOM, SLB, NOV are yummy plays.
LONG EOGExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LONG EOGExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LONG EOGExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
LONG EOGExpecting bounce from extremely oversold weekly and daily levels. If stop breached, be prepared to catch new daily reversal on lower levels with a tight stop.
EOG Approaching Support, Potential Bounce!EOG is approaching our first support at 83.19 (horizontal swing low support, 61.8% fiboancci extension, 61.8% fiboancci retracement) where a strong bounce might occur above this level pushing price up to our major resistance at 100.05 (horizontal pullback resistance, 100% fibonacci extension, 38.2% fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price.
New weekly demand levels created on EOG Resources american stockNew weekly demand levels created on EOG Resources american stock around 97 and 85.75 respectively with monthly demand level in control and in a clear uptrend. Long bias at new imbalances
THIS WEEK'S EARNINGS PLAYS -- HD, FSLR, CRM, LOW, TGT, BIDUHere's are next weeks earnings plays that I'm thinking of playing via options, assuming the implied volatility rank "stars" line up correctly ... :
HD: announces on Tues 2/23 before market open.The rank is 55, the implied 32, neither of which is that great. If IV doesn't pop, I'll pass.
FSLR: announces on Tues 2/23 after market close. With a rank of 72 and an implied of 69, it's good to go .
LOW: announces on Wed 2/24 before market open. Its rank is 65; implied, 35, so it's kind of the edge. Like HD, its volatility needs to pop a bit for me to play.
TGT: announces on Wed 2/24 before market open. Rank: 57; implied 33. Needs to pop.
CRM: announces on Wed 2/24 after market close. Also good to go with a rank of 71 and an implied of 60.
BIDU: announces on Thurs 2/25 after market close. It's good to go with rank at 72, implied at 60.
EOG: announces on Thurs 2/25 after market close. Good to go, but I don't think I've played this one recently, which is surprising because it's an oil and gas play, and that sector's been hot volatility wise.
HLF: announces on Thurs 2/25 after market close. Also good to go, rank and implied volatility wise.
I'll post setups the day immediately preceding the announcement if it looks like they're still good plays.
Why I don't Care for NFLX earnings?I will never trade a Violent stocks like NFLX for earnings options trade. Look at these? Literally no surprise. With these tickers you make a little money trading for earnings. But CONSISTENT. Now, do you want the High heavy IV NFLX and not consistent, or Low IV and consistent.
Surprise does happen here too. But you can manage it with proper planning and intraday option management skills. Options trading prior to earnings is very dynamic. That it cannot be taught, you need to learn and adapt every quarter.
Easy to trade, no stress at all. If it stresses its not every season.
