Building long term position in $EQT I’m changing the process for picking tickers to make it more affordable while avoiding risky penny lots. Comment your favourite TSX tickers under $150 & NYSE or NAS under $100.
Key Stats:
• Market Cap: ~$30B
• P/E Ratio: ~61.21
• Dividend Yield: ~1.5%
• Next Earnings Date: February 18, 2025
• Recent Analyst Sentiment: Upgraded to Buy by key players on Bloomberg
Technical Reasons for Upside:
1. Support Bounce: EQT is holding firm above a key support around $48, and recent bounces indicate the buyers are stepping in.
2. Moving Average Momentum: The short-term moving averages (20-day/50-day) are trending upward, reinforcing the bullish setup.
3. Volume Surge & Indicator Confirmation: Elevated trading volume paired with a bullish MACD crossover and an RSI climbing past 55 confirm the move higher.
Fundamental Reasons for Upside:
1. Improved Production & Cost Discipline: Recent operational reports show better-than-expected production numbers and tighter cost controls, boosting margins.
2. Favorable Energy Market Conditions: Rising energy prices and a rebounding demand in the oil & gas sector are setting the stage for higher revenues.
3. Upgraded Guidance & Analyst Optimism: Management’s upward revision of guidance, along with multiple recent upgrades, lends strong credence to the bullish case.
Potential Paths to Profit:
1. Option 1 (Low-Risk): Buy shares at current levels and hold until the target is reached.
2. Option 2 (Moderate-Risk): Purchase LEAP call options (expiring in 6-12 months) with a strike price near target levels, then sell for a profit as the stock approaches your target.
3. Alternative Strategy: Consider a bull call spread by buying a near-the-money call and selling a higher strike call with the same expiration, reducing your upfront cost while still capitalizing on the upside.
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