CHENIERE ENERGY INC is setting up nicely for a breakout.

CHENIERE ENERGY INC (LNG)       165.91   +1.6 (+0.97%)

After market: 166 +0.09 (+0.05%)

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CHENIERE ENERGY INC is setting up nicely for a breakout.9 days ago - Chartmill

A possible breakout setup was detected on CHENIERE ENERGY INC (NYSEARCA:LNG) 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 NYSEARCA:LNG.

LNG Daily chart on 2022-09-23

What is the technical picture of NYSEARCA:LNG telling us.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall LNG gets a technical rating of 9 out of 10. 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.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that LNG is one of the better performing stocks in the market, outperforming 98% of all stocks. On top of that, LNG also shows a nice and consistent pattern of rising prices.
  • LNG is part of the Oil, Gas & Consumable Fuels industry. There are 379 other stocks in this industry. LNG outperforms 87% of them.
  • LNG is currently trading in the upper part of its 52 week range. This is a good signal, certainly because the S&P500 Index is currently trading in the lower part of its 52 week range.
  • In the last month LNG has a been trading in the 153.69 - 178.62 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Why is NYSEARCA:LNG a setup?

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NYSEARCA:LNG scores a 8 out of 10:

Besides having an excellent technical rating, LNG also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is very little resistance above the current price.

How to trade NYSEARCA:LNG?

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.

Of course, there are many ways to trade or not trade NYSEARCA:LNG and this article should in no way be interpreted as trading advice. The article is purely based on an automated technical analysis and just points out the technical observations. Always make your own analysis and trade at your own responsibility.

More breakout setups can be found in our Breakout analyzer.


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