EQT Energy Drops 3.50% to $58.23 as $60 Resistance Holds Firm

EQT Energy experienced a 3.50% decline to $58.23 in the latest trading session on June 25, 2025, closing near its intraday low of $58.16. This retreat followed a failed attempt to breach the psychological $60 resistance zone, reinforcing its significance within the broader technical structure.
Candlestick Theory
Recent price action reveals bearish signals near key resistance. A shooting star pattern formed on June 24th at $60.34, followed by a lower close and today's bearish engulfing candle. The consistent rejection above $60 establishes this as formidable resistance, while the late-May trough near $55.50 offers immediate support. Failure here could expose the more substantial $52 level where volume previously surged during the April decline.
Moving Average Theory
The 50-day moving average (~$58) now converges with current price action. Sustained trading below it would signal near-term weakness. More critically, the 100-day MA ($55.80) provides primary support, with the 200-day MA ($47.30) upholding the longer-term bullish structure since late 2024. Current price compression between the 50-day and 100-day MAs highlights indecision, though the longer-term trend remains upward-sloping.
MACD & KDJ Indicators
MACD shows histogram deterioration beneath its signal line after flattening near zero, suggesting waning bullish momentum. Simultaneously, KDJ exhibits bearish alignment with the K-line (30) crossing below D-line (40) and both descending toward oversold territory. This confluence implies building downward pressure. However, potential for a tactical rebound exists once KDJ enters oversold (<30), particularly if MACD stabilizes.
Bollinger Bands
Contraction of the bands to their narrowest point since April reflects diminished volatility, often preceding directional moves. Price now hugging the lower band (~$58) indicates persistent selling pressure. A decisive close beneath this band could trigger accelerated downside targeting $55.80. Conversely, recovery above the midline ($59.30) would stabilize sentiment.
Volume-Price Relationship
Distribution patterns emerge at resistance: recent advances like June 20th (+1.80%) lacked proportional volume conviction, while today's decline occurred on elevated volume (7.7M shares), signaling bearish commitment. This divergence warns rallies may lack sustainability without significant accumulation, making any rebound attempts requiring volume validation critical to monitor.
Relative Strength Index (RSI)
RSI resides at a neutral 53, providing limited directional bias. While retreating from a June high of 68 (approaching overbought conditions), it lacks the oversold severity (<30) that frequently precedes durable reversals. Its position allows room for either extension downward toward oversold thresholds or stabilization. It should be interpreted cautiously alongside volume and key support levels.
Fibonacci Retracement
Applying Fibonacci to the major March ($46.11) to June ($60.44) advance reveals critical retracement thresholds. The 38.2% level aligns with $55.80 – converging precisely with the 100-day MA and prior May consolidation support. The deeper 50% retracement ($53.27) offers the next significant floor. These levels represent high-probability reversal zones should the current pullback extend.
Confluence and Divergence Observations
Strongest convergence materializes around $55.80-$56.00, where the 100-day MA, 38.2% Fibonacci, and prior swing low create a critical support cluster. A decisive breakdown here would negate the short-term bullish structure and likely activate downside targets towards $53-$52. Present divergence exists between neutral RSI readings and bearish MACD/Volume signals, indicating conflicting momentum narratives. Failure at current support should be prioritized over oversold readings until multi-indicator alignment confirms a reversal attempt. Overall technical posture suggests heightened downside risk in the near term unless EQT regains the $59.30-$60 resistance zone.