Dec. 25 at 1:47 PM
Actionable Trade Alert for
$EQT:
Market Context:
$EQT is currently trading at
$53.89, showing a significant oversold condition with an RSI of 23.68. This suggests potential for a rebound as the stock is trading below both its 30-day (57.49) and 50-day (56.51) moving averages, indicating bearish sentiment. However, the recent low of
$50.91 presents a strong support level, while the 60-day high of
$62.23 offers a key resistance point.
Directional Bias: Given the oversold RSI and proximity to the 60D low, we anticipate a bullish reversal in the near term.
Trade Plan:
- Suggested Entry:
$54.00
- Stop Loss:
$50.50 (below the 60D low)
- Take Profit Targets:
1.
$57.00 (1st target, 5.56% ROI)
2.
$60.00 (2nd target, 11.57% ROI)
3.
$63.00 (3rd target, 17.00% ROI)
This plan provides a clear path for potential gains while managing risk effectively.
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