Good technical signals and a possible breakout for CHENIERE ENERGY INC (NYSE:LNG).

Our stock screener has identified CHENIERE ENERGY INC (NYSE:LNG) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NYSE:LNG.

In-Depth Technical Analysis of LNG

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 10 out of 10 to LNG. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, LNG is showing a nice and steady performance.

• Both the short term and long term trends are positive. This is a very positive sign.
• Looking at the yearly performance, LNG did better than 93% of all other stocks. We also observe that the gains produced by LNG over the past year are nicely spread over this period.
• LNG is one of the better performing stocks in the Oil, Gas & Consumable Fuels industry, it outperforms 95% of 213 stocks in the same industry.
• LNG is currently trading in the upper part of its 52 week range. The market is still in the middle of its 52 week range, so LNG slightly outperforms the market at the moment.
• In the last month LNG has a been trading in the 212.41 - 244.05 range, which is quite wide. It is currently trading near the high of this range.

For an up to date full technical analysis you can check the technical report of LNG

Looking at the Setup

ChartMill incorporates a Setup Rating in its analysis, which measures the extent of consolidation in a stock over recent days and weeks. This rating, ranging from 0 to 10, is updated daily and takes into account multiple short-term technical indicators. The current setup rating for LNG is 8:

Besides having an excellent technical rating, LNG also presents a decent setup pattern. Prices have been consolidating lately. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 233.79, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for LNG in the last couple of days, which is a good sign.

How to trade LNG?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents technical observations generated by automated analysis but does not guarantee any trading outcomes. Always trade responsibly and make independent judgments.

More breakout setups can be found in our Breakout screener.

Disclaimer

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.