This is a weekly chart of Equitable Resources. 1st; It has broken a very long term down trendline. 2nd; there's a build up at the end of a 10 month range. 3rd; on the Daily chart, there's a "Eve & Adam" double bottom. Based on these chart pattern, I'm looking to go long when there's either a) a range on the Daily, which I'l look to enter at the low of the range or b) on the Daily, it retraced to a near term support around 17.50 area or c) on the Daily, price retraced to near the 20 moving average. The target profit for this move is the resistance at 25 level, based on the Weekly chart. If you want to trade options, you can look to buy the 20 Call Apr 16 expiration.
If you have any symbols from any market that you would like me to analyze, just let me know and I'll be happy to do it for you.
If you have any symbols from any market that you would like me to analyze, just let me know and I'll be happy to do it for you.
Comment:
Nice! Price going intended direction
Comment:
(Disclaimer: not giving any trading & investment advise. Just sharing views)
Comment:
Not looking good with the broad market selling off.
Will reassess again tomorrow
Will reassess again tomorrow
Comment:
No new low made last week.
Setup still intact!
Setup still intact!
Comment:
Nice surge up so far!
Let's go above 19.42 (last week's high)!!
Let's go above 19.42 (last week's high)!!
Comment:
Yes! Did poke above 19.42 yesterday!
EQT has been in the range for about a month already.
To have a stronger break out, I'd like to see the couple of days in a tighter range.
We will monitor again
EQT has been in the range for about a month already.
To have a stronger break out, I'd like to see the couple of days in a tighter range.
We will monitor again
Comment:
Another week of trading within the range. Setup still valid
Trade closed manually:
Setup invalidated!