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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cheniere Energy (NYSE:LNG) based on the price action in the company's shares. Today's price range of $36.27 and $37.00 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.

Cheniere Energy, Inc., through subsidiaries, develops liquefied natural gas terminals, and explores for oil and natural gas. The Company explores for oil and gas in the Gulf of Mexico.

In the past 52 weeks, shares of Cheniere Energy have traded between a low of $22.80 and a high of $78.25 and are now at $36.80, which is 61% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.4% while the 200-day MA has slid 1.3%.

Potential upside of 102.3% exists for Cheniere Energy, based on a current level of $36.80 and analysts' average consensus price target of $74.44. The stock should find resistance at its 200-day moving average (MA) of $44.10, as well as support at its 50-day MA of $36.18.

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 cheniere energy

Ticker(s): LNG