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SmarTrend Watching for Potential Rebound in Shares of Cheniere Energy After 1.08% Loss

By Shiri Gupta

Cheniere Energy (AMEX:LNG) traded in a range yesterday that spanned from a low of $61.86 to a high of $62.99. Yesterday, the shares fell 1.1%, which took the trading range below the 3-day low of $62.15 on volume of 853,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Cheniere Energy share prices have moved between a 52-week high of $63.97 and a 52-week low of $33.38 and are now trading 86% above that low price at $62.03 per share. Over the past week, 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 April 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $55.57. 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 amex:lng cheniere energy

Ticker(s): LNG