Trading idea for EOG Resources, Inc. (NYSE)

EOG Resources, Inc. (NYSE)

#EOG

The trend is upward. The stock is trading between the 365-day and 135-day moving averages. The downward wave pattern is truncated. The Awesome Oscillator shows a bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading idea:

Buy upon the formation of an upward wave pattern where wave (A) breaks through the trend line of the downward truncated pattern.

Stop Loss: 137.35.

Target levels: 141.90; 148.80.