EQT closes higher for the 2nd day in a row


EQT Corporation (EQT) Technical Analysis Report for Apr 16, 2018 [1 min read]
Highlights
EQT closes below its opening price unable to hold early session gains
EQT finds buyers at key support level
EQT fails to close above 50-day moving average
EQT closes higher for the 2nd day in a row
EQT rises to highest close since March 21st
TQ Sentiment
Report Sentiment: 25% Bearish
Technical Forecast:
Overview

Moving higher for the 2nd day in a row, EQT finished Monday at 49.01 edging higher $0.16 (0.33%) on low volume. Today's closing price of 49.01 marks the highest close since March 21st. Trading $0.45 higher after the open, the share was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for EQT
Volatility

Monday's trading range was $1.04 (2.12%), that's below last trading month's daily average range of $1.42. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being below average. Prices continued to consolidate within a tight trading range between 48.05 and 49.62 which it has been in now for the last three days.

Support/Resistance

After trading as low as 48.58 during the day, the stock bounced off the key support level at 48.60. The failure to close below the support might increase that levels importance as support going forward. After spiking up to 49.62 during the day, the market found resistance at the 50-day moving average at 49.49.

Trend

While EQT is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for EQT Corporation
ConditionForecastDirectionWinAvgWorstBestEvents
Hanging Man TQ Pro Members Only
High close to previous High TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Bullish Bounce off SMA 20 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when EQT Corporation traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup

Stocks Top Movers

GBPUSD 1.31350.0120 0.92%
GOLD 1,231.99.4 0.77%
HSI 28,224.48213.62 0.76%
EURUSD 1.17230.0081 0.70%
ASX 6,285.9023.20 0.37%
INDU 25,058.12-6.38 -0.03%
NDX 7,350.23-2.13 -0.03%
FTSE 7,678.79-5.21 -0.07%
NATGAS 2.733-0.002 -0.07%
SPX 2,801.83-2.66 -0.09%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Stocks

ABBV 10 day candlestick chart for ABBV88.91 -1.04
-1.16%
ACN 10 day candlestick chart for ACN166.52 -0.37
-0.22%
ADBE 10 day candlestick chart for ADBE257.54 -0.14
-0.05%
AAP 10 day candlestick chart for AAP142.67 -0.70
-0.49%
AES 10 day candlestick chart for AES13.03 0.00
0.00%
AET 10 day candlestick chart for AET187.22 -2.82
-1.48%
AFL 10 day candlestick chart for AFL43.06 0.17
0.40%
AMG 10 day candlestick chart for AMG148.84 -0.47
-0.31%
A 10 day candlestick chart for A63.85 -0.30
-0.47%
ABT 10 day candlestick chart for ABT63.32 -0.46
-0.72%