Score 7.8 (out of 10): EOG RESOURCES INC sets up for +23.3% rally in 3 months

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What’s Going On Here?

EOG Resources, Inc. is an American energy company engaged in hydrocarbon exploration.

Why Now?

EOG RESOURCES INC has triggered a new high volatility signal (3 month). During similar occasions, EOG RESOURCES INC shares had a median return of +23.3%, over the following 3 months – based on 10 historical occasions with 8 of those showing positive returns (80%). This buy signal for EOG RESOURCES INC received a high score of 7.8 (out of 10). This insight was generated on 2022-July- 13 with last price of 99.34.

What’s This Company About?

EOG RESOURCES INC is in the Oil Comp-Explor&Prodtn business. Based on the last 2 years’ risk/return profile, this asset is seen as Less Risky. Ticker symbol: EOG US.

What’s My Risk / Reward and Time Horizon?

We found 3 months to be the optimal trade horizon, after testing a number of possible alternatives (accuracy of previous returns). Otherwise consider closing out this trade once the target level of 122.58 (+23.3%) has been reached. Based on EOG RESOURCES INC’s recent up and down swings, LongShortBets suggests considering to set a stop loss level for this insight at 90.99 (last price at 99.39), which is equivalent to a -8.5% decline.

Returns during similar periods:

The chart above shows the previous returns (in %) based on similar setups with the most recent ‘insight’ shown under (1), the second most recent ‘insight’ under (2), etc.

Previous episodes:

– 11.7% (May-2022), 10.2% (April-2020), 27.5% (February-2020), 24.2% (January-2019), 30.8% (October-2018), -21.8% (April-2018), 15.8% (February-2018), 26.7% (March-2016), 62.6% (January- 2016), 22.5% (November-2014).

Historical Chart:

Summary:

NameEOG RESOURCES INC
ViewUp
Star (1 to 10)7.8
Target23.3%
Time3 months
Hit Rate80%

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