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Cheniere Energy Crosses Above its 10-day MA (LNG)

Published on Mon, 04/22/2013 - 11:11
By Peter Chu

Today, shares of Cheniere Energy (AMEX:LNG) have crossed bullishly above their 10-day moving average of $26.57 on a volume of 1.1 million shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher prices in the near term.

Cheniere Energy, Inc., through subsidiaries, develops liquefied natural gas terminals, and explores for oil and natural gas. The Company explores for oil and gas in the Gulf of Mexico.

In the past 52 weeks, shares of Cheniere Energy have traded between a low of $10.51 and a high of $28.73 and are now at $26.72, which is 154% above that low price. The 200-day and 50-day moving averages have moved 1.78% higher and 1.88% higher over the past week, respectively.

Cheniere Energy has overhead space with shares priced $26.72, or 1.0% below the average consensus analyst price target of $27.00. The stock should find initial support at its 50-day moving average (MA) of $24.11 and further support at its 200-day MA of $18.33.

By Peter Chu