EQT closes lower for the 3rd day in a row
EQT Corporation (EQT) Technical Analysis Report for Aug 10, 2018 | by Techniquant Editorial Team
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):
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.