EQT stock perpetual on MEXC up 1.7% after a 50.85 to 55.81 day: buy dips toward 53, invalid below 52.40

MEXC opened EQTSTOCK_USDT (shown as EQT_USDT PERPETUAL) at about 4:43 AM ET in its US stocks futures zone.

Underlying

EQT is a large Appalachian natural gas producer. Its share price follows US gas prices and storage data more than broad tech sentiment, which makes it a useful diversifier for crypto-native traders.

MEXC numbers, 3:35 PM ET

• Last 54.21, fair 54.24, index 54.44, +1.66%.
• Day range 50.85 to 55.81, a wide 9.8% swing for a large-cap stock.
• 24h volume about 68.7K USDT. Open interest 498,878 contracts, around 27K USDT.
• Funding -0.0199%.
• 20x max, 0.001 EQT per contract, 0% maker / 0.02% taker.

What the 15m chart says

Earlier in the session it swung between 50.85 and 55.81. Since late morning it has held a much tighter 53.10 to 54.76 band. Price is a touch under the index, and funding leans negative, so shorts are paying to press it.

Positioning: LONG on pullbacks

I like buying weakness into the 53.10 to 53.50 area rather than the current print. Targets are 54.76, then the 55.81 day high.

Invalidation: a 15m close under 52.40 says the rebound failed and the flush low is back in play.

Stock perps can gap around US market hours. Use isolated margin.