After Yesterday's Rally of 1.77% Shares Could Potentially Pullback
EQT (NYSE:EQT) traded in a range yesterday that spanned from a low of $68.83 to a high of $70.24. Yesterday, the shares gained 1.8%, which took the trading range above the 3-day high of $69.56 on volume of 398,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
EQT share prices have moved between a 52-week high of $92.79 and a 52-week low of $47.10 and are now trading 49% above that low price at $70.00 per share. The 200-day and 50-day moving averages have moved 0.18% lower and 1.35% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of EQT on July 26th, 2016 by issuing a Downtrend alert when the shares were trading at $73.68. Since that call, shares of EQT have fallen 6.4%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.