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

By Shiri Gupta

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Cheniere Energy (AMEX:LNG) based on the price action in the company's shares. Today's price range of $40.13 and $41.49 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.

In the past 52 weeks, shares of Cheniere Energy have traded between a low of $27.06 and a high of $70.49 and are now at $41.22, which is 52% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.7% while the 50-day MA has declined 2.6%.

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 has overhead space with shares priced $41.22, or 39.1% below the average consensus analyst price target of $67.69. The stock should find initial resistance at its 50-day moving average (MA) of $42.14 and further resistance at its 200-day MA of $57.54.

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 amex:lng cheniere energy

Ticker(s): LNG