Analyst Observations | Nasdaq Dorsey Wright

Comments include: EQT, FCX, LNG, RIO, & SNOW.

EQT EQT Corporation ($63.64) - Oil - After completing four consecutive buy signals EQT fell to a sell signal Tuesday when it broke a double bottom at $63. The outlook for the stock remains favorable, however, as EQT is a 4 for 5'er; from here, the next level of support is EQT's trend line at $59.

FCX Freeport-McMoRan Inc. ($58.78) - Metals Non Ferrous - FCX returned to a buy signal Tuesday when it broke a double top at $59. The outlook for the stock remains negative, however, as FCX is a 1 for 5'er. From here, the next level of overhead resistance is FCX's bearish resistance line at $62.

LNG Cheniere Energy, Inc. ($283.76) - Oil Service - After completing three consecutive buy signals, LNG fell to a sell signal when it broke a double bottom at $280 on Tuesday. The weight of the evidence remains positive, however, as LNG is a 4 for 5'er and ranks in the top half of the oil service sector matrix. From here, the next level of support sits at $272.

RIO Rio Tinto PLC (United Kingdom) ADR ($93.29) - Metals Non Ferrous - After giving three consecutive sell signals, RIO returned to a buy signal when it broke a double top at $92. The technical picture remains negative despite Tuesday's break as RIO is a 2 for 5'er; from here, the next level of resistance sits at $96.

SNOW Snowflake, Inc. Class A ($150.54) - Software - SNOW fell over 2% Tuesday to break a double bottom at $150 before falling to $146 intraday. This stock has given four consecutive sell signals and only has a 1 for 5 TA rating, confirming its weak technical picture. Avoid long exposure. Further support can be seen at $136. Overhead resistance can be seen at $158 and $166.

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