The stock of EQT GP Holdings LP (NYSE:EQGP) gapped down by $0.3 today and has $16.42 target or 9.00% below today’s $18.04 share price. The 9 months technical chart setup indicates high risk for the $5.19B company. The gap down was reported on Dec, 8 by Barchart.com. If the $16.42 price target is reached, the company will be worth $467.10 million less.
Gaps down are helpful for identifying a resistance level and to could also be used as a tradeable event. If traders are short the stock and it experiece gap down, then its usually advisable to hold the short for a bigger down move. Back-tests of such patterns show that two-thirds of the these patterns the stock performance worsens after the gap. The area gaps close 91% of the time, the breakaway gaps 1%, the continuation gaps 9% and the exhaustion gaps 64%. The stock decreased 9.75% or $1.95 on December 7, hitting $18.04. About 401,426 shares traded hands or 141.91% up from the average. EQT GP Holdings LP (NYSE:EQGP) has risen 6.00% since November 8, 2015 and is uptrending. It has outperformed by 7.08% the S&P500.
Out of 10 analysts covering EQT GP Holdings LP (NYSE:EQGP), 6 rate it “Buy”, 0 “Sell”, while 7 “Hold”. This means 46% are positive. EQT GP Holdings LP was the topic in 6 analyst reports since August 13, 2015 according to StockzIntelligence Inc.
According to Zacks Investment Research, “EQT GP Holdings, LP is a limited partnership which is engaged in owning, operating, acquiring and developing midstream assets primarily in the Appalachian Basin through its subsidiaries. EQT GP Holdings, LP is based in Pittsburgh, Pennsylvania.” Get a free copy of the Zacks research report on EQT GP Holdings LP (EQGP).
EQT GP Holdings LP - Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.