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Possible Bearish Inside Day Candle Pattern Detected for Cheniere Energy (AMEX:LNG)

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cheniere Energy (AMEX:LNG) based on the price action in the company's shares. Today's price range of $65.73 and $65.85 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Cheniere Energy may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

In the past 52 weeks, Cheniere Energy share prices have been bracketed by a low of $55.09 and a high of $71.03 and are now at $65.82, 19% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has declined 0.8%.

Cheniere Energy, Inc. is an energy company focused on LNG-related businesses. The Company owns and operates liquefied natural gas (LNG) receiving terminals and liquefied natural gas (LNG) pipelines. Cheniere Energy manages and operates projects in Louisiana and Texas.

Cheniere Energy (AMEX:LNG) has potential upside of 2.8% based on a current price of $65.82 and analysts' consensus price target of $67.69. The stock should find initial support at its 200-day moving average (MA) of $64.72 and further support at its 50-day MA of $63.53.

SmarTrend is monitoring the recent change of momentum in Cheniere Energy. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Cheniere Energy in search of a potential trend change.

Keywords: bearish inside day candle amex:lng cheniere energy

Ticker(s): LNG