Natural Gas Producer Sets up Bullish Flag Breakout
EQT (EQT) shares of the natural gas producer are hitting the ready to run scan as they form a bullish flag within a cup and handle pattern looking poised to breakout above the 38 level and head towards 40-41 in the short term. EQT has seen RSI stay above 50 during the whole past month that it consolidated sideways, a great signal usually to anticipate an upside resolution coming. EQT just had news late Friday that Blackstone is in talks to acquire a minority stake in some of its natural gas pipelines. EQT still has a massive buyer of 30,000 December $40 calls in open interest from 10/3.