After Yesterday's Rally of 2.12% Shares Could Potentially Pullback
Cheniere Energy (NYSE:LNG) traded in a range yesterday that spanned from a low of $40.06 to a high of $41.81. Yesterday, the shares gained 2.1%, which took the trading range above the 3-day high of $40.39 on volume of 1.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
Cheniere Energy share prices have moved between a 52-week high of $78.25 and a 52-week low of $22.80 and are now trading 80% above that low price at $40.93 per share. Over the last five market days, the 200-day moving average (MA) has gone down 1.3% while the 50-day MA has advanced 1.4%.
SmarTrend recommended that subscribers consider buying shares of Cheniere Energy on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $35.44. Since that recommendation, shares of Cheniere Energy have risen 12.9%. We continue to monitor LNG for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: rebounders cheniere energy