Long Position on EOG @ $172.50 on 10/9/2013 (Momentum)

EOG Resources (EOG) engages in the exploration, development, production, and marketing of crude oil and natural gas.

As of December 31, 2012, it had total estimated net proved reserves of 1,811 million barrels of oil equivalent of which 701 million barrels (MMBbl) were crude oil and condensate reserves, and 320 MMBbl were natural gas liquids reserves; and 4,740 billion cubic feet were natural gas reserves.

The company operates primarily in the United States, Canada, the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and the Argentine Republic.

Shares have formed a bullish "cup & handle" and higher share prices are expected for this stock. 

52-Week Trading Range: $107.76 - $174.86

Entry Point: $172.50

Stop Loss: $163.87

Target Price: $189.75

Updates

11/11/2013 1:12:12 PM

We are closing EOG at $171.20 after its 30-day expired without achieving our upside target. We still believe that EOG is a great long term holding!

Position closed on 11/11/2013 at price of $171.20 with a -0.75% loss in 33 days.

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