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

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Cheniere Energy (AMEX:LNG) based on the price action in the company's shares. Yesterday's price range of $65.03 and $65.34 is within the prior day'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. Traders and investors interested in shares of Cheniere Energy may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

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 3.6% based on a current price of $65.34 and analysts' consensus price target of $67.69. The stock should find initial support at its 200-day moving average (MA) of $63.36 and further support at its 50-day MA of $62.47.

In the past 52 weeks, shares of Cheniere Energy have traded between a low of $50.08 and a high of $71.03 and closed yesterday at $65.34, which is 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has advanced 0.5%.

SmarTrend recommended that subscribers consider buying shares of Cheniere Energy on January 4th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $61.36. Since that recommendation, shares of Cheniere Energy have risen 6.9%. We continue to monitor LNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish am inside day candle amex:lng cheniere energy

Ticker(s): LNG