EQT Corporation, together with its subsidiaries, operates as an integrated energy company in the United States. It operates in three segments: EQT Production, EQT Midstream, and Distribution. The EQT Production segment engages in the exploration, development, and production of natural gas, natural gas liquids, and crude oil in the Appalachian Basin. The EQT Midstream segment provides gathering, processing, transmission, and storage services to the independent third parties in the Appalachian Basin. This segment has approximately 10,450 miles of gathering lines. The Distribution segment distributes and sells natural gas to residential, commercial, and industrial customers in southwestern Pennsylvania, West Virginia, and eastern Kentucky. This segment serves approximately 276,500 customers consisting of 257,700 residential, and 18,800 commercial and industrial customers.
Please take a look at the 1-year chart of EQT (EQT Corporation) below with my added notations:
Over the last (5) months, EQT always seems to find support or resistance on or at the increments of $5. First, notice the $55 support (black) that, prior to last week, was previous resistance. Next, you can see the common level of $50 (blue) and the lower level of support at $45 (red). The nice thing about EQT is that it shows you how to trade it no matter what direction the market moves.
The Tale of the Tape: EQT finds the levels of $5 important. If the stock pulls back to the $55 support you could enter a long play. If it breaks below $55, you could enter a short play. In that case, you could then buy EQT if it comes down to $50. Etc., etc., etc!
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