EQT closes lower for the 3rd day in a row


EQT Corporation (EQT) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team

Highlights

EQT closes above its opening price after recovering from early selling pressure
EQT closes lower for the 3rd day in a row
EQT breaks below previous session low
EQT falls to lowest close since August 2nd
EQT ends the day indecisive

Overview

Moving lower for the 3rd day in a row, EQT finished the week -1.09% lower at 49.81 after losing $0.14 (-0.28%) today on high volume. Today's closing price of 49.81 marks the lowest close since August 2nd. Trading up to $0.52 lower after the open, the share managed to reverse during the session as bulls took control ending the day above its opening price. Closing below Thursday's low at 49.88, EQT Corporation confirms its breakout through the previous session's low having traded $0.78 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily Candlestick Chart (EQT as at Aug 10, 2018):

Daily technical analysis candlestick chart for EQT Corporation (EQT) as at Aug 10, 2018

Friday's trading range was $1.12 (2.26%), that's slightly below last trading month's daily average range of $1.43. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being above average.

Prices are trading close to a key support level at 48.95.

Though still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Selling might accelerate should prices move below the close-by swing low at 48.59 where further sell stops could get triggered.


Market Conditions for EQT as at Aug 10, 2018

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