EQT closes lower for the 3rd day in a row
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.
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.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being slightly bearish.
Market Conditions for EQT Corporation
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|Close to Swing Low||TQ Pro Members Only|
|Bullish Harami Candle||TQ Pro Members Only|
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