Long Position on EOG @ $125.75 on 7/16/2018 (Momentum)

EOG Resources, Inc. (EOG) explores for, develops, produces, and markets crude oil and natural gas.

The company's principal producing areas are located in New Mexico, North Dakota, Texas, Utah, and Wyoming in the United States; and the Republic of Trinidad and Tobago, the United Kingdom, the People's Republic of China, and Canada.

As of December 31, 2017, it had total estimated net proved reserves of 2,527 million barrels of oil equivalent, including 1,313 million barrels (MMBbl) crude oil and condensate reserves; 503 MMBbl of natural gas liquid reserves; and 4,263 billion cubic feet of natural gas reserves.

Shares have formed a bullish "cup and handle" and are on the verge of a breakout. The 50-day moving average is shown in brown. 

Entry Point: $125.75

Stop Loss: $119.00

52-Weeks Trading Range: $81.99 - $128.03

Target Price: $138.50

Updates

2/25/2019 11:59:48 AM

Closed at $95.00

Position closed on 2/25/2019 at price of $95.00 with a -24.45% loss in 224 days.

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