Nov. 15 at 8:11 AM
$EOG: The last close at
$110.4 indicates a strong position, but the RSI at 69.38 suggests it is nearing overbought territory, which may limit upside potential. The MA30 at
$107.54 indicates short-term support, while the MA50 at
$111.05 acts as a resistance level. The recent 60D high of
$126.12 provides a significant target, but the 60D low of
$103.5 indicates potential downside risk.
Directional bias is slightly bearish due to the high RSI and proximity to the MA50 resistance. Suggested entry is at
$109.50, just below the MA30 support. Set a stop loss at
$107.00 to manage risk. For targets, aim for
$115.00, which is a reasonable retracement level, and a more aggressive target at
$120.00, should momentum build.
Monitor market conditions closely, as a break below the MA30 could signal a deeper pullback.
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