BullBear Trading: Stock and Financial Market Technical Analysis

This morning, crude oil is declining lower by nearly 4.0 percent. This is causing most energy stocks to sell off. Even energy stocks that are focused on natural gas are coming under severe pressure. Cheniere Energy, Inc.(NYSEMKT:LNG) is a company that is a leader in the liquified natural gas sector. This stock just made a recent high on the chart at $51.41 a share on May 25, 2017. Today, LNG stock is trading lower by $1.58 to $46.72 a share. Traders and investors should note that this stock will have major institutional chart support around the $41.50 area. This is a spot on the chart where the stock broke out to the upside in January 2017. This level should be defended again when it is retested.

Nicholas Santiago

Views: 16

Reply to This

Join BullBear Traders

Free 30 Day Trial
No Credit Card Required


Steven Vincent's market analysis is published on:

Steven Vincent's opinion is polled every week for the Birinyi Associates
TickerSense Blogger Sentiment Poll

© 2018   Created by Steven Vincent.   Powered by

Badges  |  Report an Issue  |  Terms of Service