EQT Corporation released, on 25 July, its earnings results for the second quarter of 2013. Sales are up 54% to 520 million dollars (consensus : 507 million) and EPS skyrocketed by 171% to 0.57 (consensus : 0.566).

Analysts welcomed this publication and revised upward their EPS estimates.

Technical patterns are in the green: prices are up for several months. The movement should continue in the coming trading sessions. However, we expected the stock to firstly come back to the USD 83.7 short term support, corresponding to the 20-day moving average, before to bounce towards USD 87.2.

Therefore, taking into account the fundamentals and technical patterns, it seems opportune to take a long position in case of a comeback on USD 83.7. The first target price is USD 87.2. A breakout of this level will be a new bullish signal for higher target price. A stop loss will be placed under the USD 83.7 short term support, threshold that would invalidate this trading strategy.