5 Big Stock Trades Signaling 'Buy'
EQT
Last up today is EQT (EQT), a $9 billion integrated natural gas company. The setup forming in EQT may not be the most "textbook" setup on our list, but it's one of the most tradable right now.
EQT is currently forming a bullish rounding bottom pattern. The catch is that the stock is forming the setup at the top of its recent price action. Ultimately, that doesn't matter a whole lot -- even though this setup is coming in on the high end of EQT's range, the trading implications are the same. This pattern is actually giving EQT a chance to consolidate and bleed off some overbought momentum after posting a big leg higher since this summer.
Resistance at $62 has proven to be a strong upside barrier since shares started consolidating. So, a breakout above that price marks the buy signal in this stock. With shares sitting just below $62, we could see a breakout sooner rather than later in EQT. Keep a close eye on this one.
To see this week's trades in action, check out this week's Must-See Charts portfolio on Stockpickr.-- Written by Jonas Elmerraji in Baltimore.Follow Stockpickr on Twitter and become a fan on Facebook.
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