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EQT CORP (NYSE:EQT) showing some interesting technicals. Here's why.

By Mill Chart

Last update: May 16, 2024

A possible breakout setup was detected on EQT CORP (NYSE:EQT) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:EQT.

EQT Daily chart on 2024-05-16

Zooming in on the technicals.

ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.

Overall EQT gets a technical rating of 8 out of 10. Although EQT is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

  • The long and short term trends are both positive. This is looking good!
  • In the last month EQT has a been trading in the 35.91 - 41.47 range, which is quite wide. It is currently trading near the high of this range.
  • When comparing the yearly performance of all stocks, we notice that EQT is one of the better performing stocks in the market, outperforming 73% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
  • EQT is an average performer in the Oil, Gas & Consumable Fuels industry, it outperforms 53% of 213 stocks in the same industry.
  • EQT is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so EQT is lagging the market.

For an up to date full technical analysis you can check the technical report of EQT

How does the Setup look for NYSE:EQT

Besides the Technical Rating, ChartMill also assign a Setup Rating to every stock. This setup score also ranges from 0 to 10 and determines to which extend the stock is consolidating. This is achieved by evaluating multiple short term technical indicators. NYSE:EQT currently has a 8 as setup rating:

EQT has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a support zone below the current price at 40.68, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EQT in the last couple of days, which is a good sign.

Trading setups like NYSE:EQT

A breakout opportunity may arise when the stock surpasses the current consolidation zone and reaches new highs. Traders often wait for this breakout before considering buying the stock. To manage risk, a stop loss order could be placed below the consolidation zone to limit potential losses.

Of course, there are many ways to trade or not trade NYSE:EQT and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

Our Breakout screener lists more breakout setups and is updated daily.

Keep in mind

This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.



NYSE:EQT (5/24/2024, 7:24:51 PM)

After market: 40.15 0 (0%)


+0.24 (+0.6%)

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