By Mill Chart
Last update: Aug 7, 2023
A possible breakout setup was detected on GOLAR LNG LTD (NASDAQ:GLNG) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NASDAQ:GLNG.
ChartMill employs a sophisticated system to assign a Technical Rating to every stock in its analysis. This rating, which ranges from 0 to 10, is determined by carefully assessing multiple technical indicators and properties.
We assign a technical rating of 8 out of 10 to GLNG. This is due to a decent performance in both the short and medium term time frames. Compared to the overall market, GLNG is only an average performer.
Check the latest full technical report of GLNG for a complete technical analysis.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NASDAQ:GLNG this score is currently 9:
Besides having an excellent technical rating, GLNG also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 24.25. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 23.92, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for GLNG in the last couple of days, which is a good sign. Very recently a Pocket Pivot signal was observed. This is another positive sign.
For a potential trade one would typically wait until the stock breaks out of the consolidation zone to enter the stock and it could be sold again for a loss when it would fall back below the zone.
This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.
Every day, new breakout setups can be found on ChartMill in our Breakout screener.
This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.
GOLAR LNG LTD
NASDAQ:GLNG (11/30/2023, 3:47:05 PM)After market: 20.89 -0.64 (-2.97%)
Golar LNG (GLNG) declares $0.25/share quarterly dividend, in line with previous. Forward yield 4.55% Payable Dec. 11; for shareholders of record Dec. 1; ex-div
Golar LNG reports Q3 net income of $114 million and adjusted EBITDA of $75 million, surpassing expectations with revenue of $67.25 million.
Reference is made to the third quarter 2023 report released on November 21, 2023. Golar LNG Limited (“Golar”), NASDAQ ticker: GLNG, has declared a total...
Highlights and subsequent events Golar LNG Limited (“Golar” or “the Company”) reports Q3 2023 Net income of $114 million and Adjusted EBITDA1 of $75...
Golar LNG Limited (“Golar”) is pleased to announce that the FLNG Gimi departed Singapore’s Seatrium Shipyard today, November 19, 2023. FLNG Gimi is now...
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Golar LNG stock last year posted EPS growth of 252% and 999%+ in the last two quarters. It's been consolidating this year.