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Look for Shares of Cheniere Energy to Potentially Pullback after Yesterday's 5.69% Rise

By Shiri Gupta

Cheniere Energy (AMEX:LNG) traded in a range yesterday that spanned from a low of $62.51 to a high of $65.99. Yesterday, the shares gained 5.7%, which took the trading range above the 3-day high of $62.30 on volume of 1.9 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 $71.03 and a 52-week low of $46.00 and are now trading 42% above that low price at $65.35 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.5% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Cheniere Energy on October 10th, 2018 by issuing a Downtrend alert when the shares were trading at $64.94. Since that call, shares of Cheniere Energy have fallen 5.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders amex:lng cheniere energy

Ticker(s): LNG