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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Eqt Corp (NYSE:EQT) based on the price action in the company's shares. Yesterday's price range of $20.89 and $21.06 is within the prior day'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. Traders and investors interested in shares of Eqt Corp may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Eqt Corp have traded between a low of $16.29 and a high of $31.24 and closed yesterday at $20.89, which is 28% above that low price. The 200-day and 50-day moving averages have moved 0.42% lower and 0.65% higher over the past week, respectively.

Potential upside of 245.9% exists for Eqt Corp, based on a current level of $20.89 and analysts' average consensus price target of $72.27. Eqt Corp shares should encounter resistance at the 200-day moving average (MA) of $21.45 and support at the 50-day MA of $20.58.

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.

SmarTrend is tracking the current trend status for Eqt Corp and will alert subscribers who have EQT in their portfolio or watchlist when shares have changed trend direction.

Keywords: bullish am inside day candle eqt corp

Ticker(s): EQT