Today, shares of EQT (NYSE:EQT) have crossed bearishly below their 10-day moving average of $50.83 on a volume of 515K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
EQT share prices have moved between a 52-week high of $73.10 and a 52-week low of $45.68 and are now trading 10% above that low price at $50.09 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.6% while the 200-day MA has remained constant.
EQT Corporation is an integrated energy company with emphasis on Appalachian area natural-gas supply, transmission and distribution. The Company, through its subsidiaries, offer natural gas products to wholesale and retail customers.
EQT (NYSE:EQT) has potential upside of 32.5% based on a current price of $50.09 and analysts' consensus price target of $66.38. The stock should run into initial resistance at its 50-day moving average (MA) of $50.91 and subsequent resistance at its 200-day MA of $55.83.
