Energy Stock Could Bounce Off Bullish Trendline

Core Viewpoint - EQT Corp is experiencing a pullback from its record high, but still maintains a strong year-to-date performance and potential for recovery due to bullish signals [1][2]. Group 1: Stock Performance - EQT Corp is currently down 1.5% at $54.06, following a peak of $61.02 on June 23 [1]. - The stock has a year-to-date gain of 17.4%, with support at $52 likely to mitigate further losses [1]. Group 2: Technical Indicators - EQT is within one standard deviation of its 126-day moving average, having traded above this trendline in at least eight of the last ten trading days [2]. - Historically, similar conditions have led to a 60% chance of the stock being higher one month later, with an average gain of 7.1% [2]. Group 3: Market Sentiment - Short-term options traders are exhibiting bearish sentiment, as indicated by a put/call open interest ratio of 1.36, ranking in the 92nd percentile of annual readings [3]. - A potential unwinding of this pessimism could provide additional support for EQT's stock [3]. Group 4: Options Market - Options are currently seen as an affordable strategy for investors looking to capitalize on EQT's future movements, with a Volatility Index of 33% in the 9th percentile of its annual range [4]. - This low volatility expectation suggests that options traders are anticipating minimal price fluctuations in the near term [4].