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EQT Midstream Partners LP (
EQM) owns, operates, acquires and develops midstream assets in the Appalachian Basin. It provides natural gas transmission, storage and gathering services. This stock is trading up 3.4% at $51 in recent trading.
Today's Volume: 126,000
Average Volume: 103,705
Volume % Change: 295%
>>3 Basic Materials Stocks Under $10 to Watch
From a technical perspective, EQM is gapping sharply higher here with above-average volume. This move is quickly pushing shares of EQM within range of triggering a major breakout trade. That trade will hit if EQM manages to take out its all-time high at $51.72 with high volume.
Traders should now look for long-biased trades in EQM as long as it's trending above today's low of $49.84, and then once it sustains a move or close above $51.72 with volume that hits near or above 103,705 shares. If that breakout triggers soon, then EQM will set up to enter new all-time high territory, which is bullish technical price action. Some possible upside targets off that breakout are $55 to $60, or even north of $60.
To see more stocks rising on unusual volume, check out the
Stocks Rising on Unusual Volume portfolio on Stockpickr.
-- Written by Roberto Pedone in Madison, Wis.
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