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EOG pops to highest close since Inception


Technical Analysis Report for EOG - May 17, 2018 [< 1 min read]
Highlights
EOG rallies 3.83% on high volume
EOG dominated by bulls lifting the market higher throughout the day
EOG closes higher for the 4th day in a row
EOG ends the day on a bullish note closing near the high of the day
EOG pushes through previous session high
TQ Sentiment
Technical Forecast:
Overview

Moving higher for the 4th day in a row, EOG finished Thursday at 126.15 surging $4.65 (3.83%) on high volume. This is the biggest single day gain in over a year. Today's closing price of 126.15 marks the highest close since Inception. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Wednesday's high at 121.87, the share confirms its breakout through the prior session's high having traded $4.58 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for EOG
Volatility

Thursday's trading range was $4.45 (3.65%), that's far above last trading month's daily average range of $2.61. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.

Trend

The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.

Conclusion

Even though both sentiments are bullish for the next trading day, the classical technical analysis metrics are only bullish while our quantitative statistics show a very bullish sentiment.

Report Market Conditions
ConditionForecastDirectionWinAvgWorstBest
Closed above last periods high TQ Pro Members Only
4 Consecutive Higher Closes TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Strong Up Move TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
More market conditions identified for TQ Pro members...
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