TradingView
noam_chom
May 23, 2022 5:45 PM

EQT Natural Gas Domestic Player will Top Soon Short

NYSE:EQT1D
EQT CorporationNYSE

Description

⋅
$50-52 in a week or two would be ideal

this is over-cooked and the macro-tailwinds can rapidly become headwind

anti-ESG sentiment is at all time highs

People are now conditioned to believe in a Fossil-Fuel Super Cycle, to protect them against failing Tech investments from 2021

Comment

⋅
Top printed in the 50-52 range as targeted

Comment

⋅
relief rally in play up to 40-42

Comment

⋅
relief rally topped around $39

Comment

⋅
WOW a second drive down to $31 followed by a rally to $43

it is possible that a new high is printed soon

Comment

⋅
looks like a distribution top structure. La Nina winter ahead for North America may spell less demand than anticipated

Comment

⋅
distribution continues, this now looks like a broadened double top - similar to bitcoin 2021 and gold 2000 - 2022

Comment

⋅
any rally back to $50 should trigger a massive amount of selling
Trend AnalysisTechnical IndicatorsFundamental AnalysisEQTNatural GasnatgasdomesticinfrastructureXOMhaliburtoncoterraenergyCTRA
Comments
a914freak
⋅
After that nice green day this past Friday up 1.40 I think it's headed for new all time highs. JMHO
noam_chom
⋅
@a914freak, looks like a coin flip for seeing +50 again rather than sub 40. my opinion is that this is in a topping distribution range between 40 and 50 unless a major catalyst drives a breakout or a breakdown
More