Equinor Plunges 2.69% Amid Volatile Intraday Action—What’s Fueling the Selloff?

Summary
• Equinor (EQNR) trades at $24.26, down 2.69% from its $24.93 previous close
• Intraday range narrows to $24.21–$24.495 amid 1.6M turnover
• Sector leader Nextera (NEE) defies trend with 0.47% gain
• Technicals show short-term bullish trend but price near 52W low

Equinor’s sharp intraday decline has sparked urgency among traders, with the stock trading near its 52-week low. While the Renewable Energy sector shows mixed momentum, EQNR’s move appears decoupled from broader sector dynamics. Key technical indicators and options activity suggest a critical juncture for the stock as it tests key support levels.

Technical Divergence and Support Levels Drive EQNR’s Sharp Decline
Equinor’s 2.69% drop reflects a breakdown in short-term technical momentum despite a long-term bullish trend. The stock is trading near its 200-day moving average ($24.35) and the lower Bollinger Band ($23.67), suggesting oversold conditions. The MACD (-0.205) remains below its signal line (-0.253), indicating bearish momentum, while the RSI (55.65) hovers in neutral territory. The price action suggests a potential short-term reversal as the stock consolidates near critical support levels.

Renewable Energy Sector Splits as Nextera Gains, Equinor Falters
The Renewable Energy sector shows mixed signals, with sector leader Nextera Energy (NEE) rising 0.47% despite Equinor’s decline. This divergence suggests EQNR’s move is driven by specific technical factors rather than sector-wide dynamics. While NEE’s performance reflects sector resilience, Equinor’s price action indicates a potential short-term correction unrelated to broader renewable energy trends.

Options with High Leverage and Liquidity Offer Strategic Entry Points
• 200-day MA: $24.35 (near current price); RSI: 55.65 (neutral); Bollinger Bands: $23.67–$25.27
• 30D support: $24.48–$24.52; 200D support: $24.48–$24.61

Equinor’s technical profile suggests a critical test of support levels. Traders should monitor the 200-day MA ($24.35) and the lower Bollinger Band ($23.67) for potential reversal signals. The options chain reveals two high-leverage contracts with strong liquidity:

• EQNR20251017P24 (Put, $24 strike, 2025-10-17):
- IV: 24.62% (moderate)
- Leverage: 35.66% (high)
- Delta: -0.450 (moderate sensitivity)
- Theta: -0.022 (significant time decay)
- Gamma: 0.207 (high sensitivity to price movement)
- Turnover: $10,704 (liquid)
- Payoff at 5% downside ($23.05): $0.95/share
- This put option offers aggressive short-side exposure with high gamma and leverage, ideal for capitalizing on a breakdown below $24.

• EQNR20251017P25 (Put, $25 strike, 2025-10-17):
- IV: 22.26% (moderate)
- Leverage: 20.21% (high)
- Delta: -0.670 (high sensitivity)
- Theta: -0.026 (significant time decay)
- Gamma: 0.207 (high sensitivity to price movement)
- Turnover: $120 (moderate liquidity)
- Payoff at 5% downside ($23.05): $1.95/share
- This deeper-in-the-money put provides higher potential returns but requires a larger price move. Best for directional bets on a sharp decline.

Aggressive bulls may consider EQNR20251017C25 (Call, $25 strike) into a bounce above $24.50, while conservative traders should watch the 200-day MA for confirmation.

Backtest Equinor Stock Performance
I attempted to pull Equinor’s daily OHLC data (needed to identify every day from 2022-01-01 to today when the intraday low fell 3 % or more below the prior close) but the data-service session terminated unexpectedly. To keep the project moving you have two options:1. Quick manual route • If you already know (or can export) the exact dates of –3 % intraday plunges, just paste them here (yyyyMMdd format). I can proceed straight to the event back-test engine with those dates. 2. Automated route (preferred for completeness) • I’ll retry the data-pull once the service is stable, automatically detect the plunge dates, then run the back-test. Let me know which approach you’d like to take, or if you prefer to wait for another retry.

Position for a Bounce or Breakdown—Key Levels to Watch
Equinor’s intraday selloff has created a pivotal moment for traders. The stock’s proximity to the 200-day MA and lower Bollinger Band suggests a potential short-term reversal, but a break below $24.21 could accelerate the decline. Sector leader Nextera’s 0.47% gain indicates broader sector resilience, but EQNR’s technicals remain fragile. Immediate action: monitor the $24.48 support cluster and $23.67 lower band. If the 200-day MA holds, the RSI’s neutral reading may signal a buying opportunity. Aggressive traders should prioritize the EQNR20251017P24 put for a breakdown play.