Latest news with #Schaeffers
Forbes
15 hours ago
- Business
- Forbes
Energy Stock Could Rally Back Toward Record Highs
Natural gas giant EQT (EQT) is trading 0.3% higher at $55.87, struggling to recover from a recent pullback from its June 23 record peak of $61.02. The shares are enjoying a floor of support from the formerly resistant $55 level, with a historically bullish trendline just below. While the equity remains up 22% this year, another overdue boost could be looming. Per Schaeffer's Senior Quantitative Analyst Rocky White, EQT is within one standard deviation of its 50-day moving average. EQT was higher than this this trendline in at least eight of the last 10 trading days and spent 80% of the last two months above it. Within these parameters, 12 other signals occurred in the past five years, after which the equity was higher one month later 67% of the time, averaging a 5.5% pop. A move of comparable magnitude would place EQT back near $60 -- within a chip-shot of its record high. Now looks like a good time to weigh in with options, too. EQT's Schaeffer's Volatility Index (SVI) of 34% ranks in the 12th percentile of its annual range, meaning options traders are pricing in low volatility expectations. Daily chart of EQT with 50-day moving average
Yahoo
17 hours ago
- Business
- Yahoo
Footwear Stock Has Room to Run on the Charts
On Holding AG (NYSE:ONON) looks ready to make a comeback after its June losses. The shares were last seen up 3.4% at $53.97, bouncing off support at their 80-day and 100-day moving averages. Plus, pullbacks to both of these trendlines have preceded bullish activity for the retailer in the past. Per Schaeffer's Senior Quantitative Analyst Rocky White, ONON is within 0.75 of both trendlines' 20-day average true range (ATR) after spending at least 8 of the last 10 days and 80% of the last two months above them. Within this parameters, ONON has pulled back to the 80-day trendline seven other times in the past three years. The stock was higher one month later 86% of the time after these signals with an average 15.7% gain. The 100-day moving average has seen six similar signals during that time, after which the shares were higher one month later 83% of the time with an average 13.6% gain. The security is also in "oversold" territory, per its 14-day relative strength index (RSI) of 29.6. This could be indicative of a short-term bounce. Plus, ONON has plenty of short covering potential. Short interest has been building, and now represents 7.7% of the stock's available float -- over three days' worth of pent-up buying power. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
