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Possible Bearish Inside Day Candle Pattern Detected for Eqt Corp (NYSE:EQT)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Eqt Corp (NYSE:EQT) based on the price action in the company's shares. Today's price range of $21.44 and $21.44 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Eqt Corp may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

There is potential upside of 237.1% for shares of Eqt Corp based on a current price of $21.44 and an average consensus analyst price target of $72.27. The stock should hit resistance at its 200-day moving average (MA) of $22.51, as well as support at its 50-day MA of $19.69.

EQT Corporation operates as a natural gas production company in the United States. It produces natural gas, natural gas liquids (NGLs), and crude oil. As of December 31, 2018, this segment had 21.8 trillion cubic feet of proved natural gas, NGLs, and crude oil reserves across approximately 1.4 million gross acres. The company was founded in 1925 and is headquartered in Pittsburgh, Pennsylvania.

In the past 52 weeks, Eqt Corp share prices have been bracketed by a low of $16.29 and a high of $31.24 and are now at $21.44, 32% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.5% while the 200-day MA has slid 0.6%.

SmarTrend is monitoring the recent change of momentum in Eqt Corp. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Eqt Corp in search of a potential trend change.

Keywords: bearish inside day candle eqt corp

Ticker(s): EQT