EQT Energy Jumps 5.33% on Bullish Technicals Nearing All-Time High

EQT Energy (EQT) gained 5.33% in the most recent session, marking two consecutive days of gains with a total increase of 6.90% over this period. This upward momentum positions the stock at $58.28, approaching its recent high of $58.36 from the latest trading day.
Candlestick Theory
Recent candlestick patterns reveal significant bullish momentum. The current two-day rally formed two consecutive white bodies, with the latest session displaying a long bullish candle closing near its high ($58.28 vs. high of $58.36). This signals strong buying pressure. Critical resistance is observed at the June peak of $60.78, while support emerges near the July low of $53.42. The breach above the $55.42–$56.90 consolidation zone (July 8–11) suggests a potential trend reversal, though sustainability requires confirmation above $60.78.
Moving Average Theory
The 50-day moving average (MA) recently crossed above both the 100-day and 200-day MAs, forming a bullish "golden cross." The current price ($58.28) trades above all three MAs, confirming an upward trend. The 50-day MA provides dynamic support near $54.50, while the ascending 200-day MA ($48–$52 range) underscores a long-term bullish bias. Short-term momentum remains intact with the price positioned firmly above the 50-day MA.
MACD & KDJ Indicators
MACD shows a bullish crossover with the signal line, as the histogram turns positive after a period of convergence. This aligns with the recent price surge. KDJ indicators reflect overbought conditions (K and D lines >80), though rising J-line momentum supports continued upside. Divergence is absent; both oscillators agree on bullish momentum, but overbought KDJ levels warrant caution for near-term consolidation.
Bollinger Bands
Bollinger Bands are expanding after a contraction phase in early July, signaling increasing volatility and strong directional momentum. The price currently hugs the upper band ($57–$58), typically indicative of short-term overextension. A sustained move above the upper band would confirm breakout strength, while a retreat to the middle band ($54–$55) could offer buying opportunities if supported by volume.
Volume-Price Relationship
Volume surged 94% to 9.98 million shares during the 5.33% rally, confirming buyer conviction. This contrasts with subdued volume during the July pullback (5.15 million shares on July 11). The volume-weighted average price (VWAP) for the upswing aligns with the closing price, validating accumulation. However, the absence of volume expansion above the June peak ($60.78) remains a watchpoint for trend sustainability.
Relative Strength Index (RSI)
RSI(14) calculates at approximately 68, nearing overbought territory (>70) but retaining upward momentum. The reading has risen sharply from 42 in early July, reflecting accelerating bullish pressure. Historically, EQT has sustained RSI levels up to 75 during strong trends, suggesting current strength may persist barring reversal signals.
Fibonacci Retracement
Using the swing high of $60.78 (June 24) and swing low of $53.42 (July 10), key retracement levels are identified: 61.8% ($58.05), 50% ($57.10), and 38.2% ($56.15). The current price ($58.28) has decisively broken the 61.8% level with conviction, targeting the 78.6% retracement at $59.50 and ultimately the $60.78 peak. This Fibonacci progression aligns with moving average support and candlestick breakout signals.
Confluence and Divergence
Strong confluence exists between the Fibonacci 61.8% break, volume-backed candlestick reversal, and moving average alignment. MACD and RSI momentum corroborate this bullish convergence. The lone caution stems from Bollinger Band expansion near price extremes and overbought KDJ readings, which may foreshadow consolidation. No material divergences were observed across indicators.
Conclusion
Technical posture for EQT is robustly bullish across multiple frameworks, supported by decisive breaks of key resistance, volume confirmation, and positive momentum oscillators. The setup suggests a high probability of testing the $60.78 all-time high. Traders should monitor for consolidation near $59.50 (Fibonacci 78.6%) and watch Bollinger Band/RSI thresholds for overextension signals. A close below the 50-day MA ($54.50) would invalidate the uptrend.