Cheniere Energy is a leading company in the liquid natural gas (LNG) industry, and its chart pattern tells us this stock is ready to pop higher. I like its strong move up a couple of weeks ago followed by some consolidation, which formed a bullish pennant pattern (a pattern that typically resolves to the upside). Turnover has been swelling on the up days, and while relative strength peaked last week, a modest pullback signals that it’s time to reload.
Though the energy sector has been rather mixed, LNG is on a roll. It helps fulfill global energy needs and can be transported worldwide. Big institutional buyers “get it,” so we should see this stock continue to climb toward higher levels soon.
Cheniere Energy (NYSE:LNG) Video Chart Analysis
Take a deeper dive into the chart action on tech stock NYSE:LNG and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
Love what you’re learning in our market analysis? Don’t miss a single video! Get the latest chart action delivered directly to your inbox every week as Bob breaks down stocks to watch and potential trade options!
About Cheniere Energy
Cheniere Energy, Inc., an energy company, engages in the liquefied natural gas (LNG) related business in the United States. It operates through two segments, LNG Terminal Business, and LNG and Natural Gas Marketing Business. The company owns and operates Sabine Pass LNG terminal in western Cameron Parish, Louisiana; and Corpus Christi LNG terminal near Corpus Christi, Texas. It also owns Creole Trail Pipeline, a 94-mile pipeline interconnecting the Sabine Pass LNG terminal with various interstate pipelines. In addition, the company is involved in the LNG and natural gas marketing business. Cheniere Energy, Inc. was founded in 1983 and is based in Houston, Texas.
