LNG Approaching Resistance - Market Analysis for Jul 27th, 2012
Cheniere Energy, Inc. (LNG) has rocketed off of its near-term, base-like pattern and is heading for a very important confrontation with resistance at 14.00-14.05, which represents the issue price at 14.05 of its recent secondary offering.
If LNG hurdles and sustains above 14.05, it could attract huge buying interest that propels towards 14.70/90 next, on the way to 15.50/80, thereafter.
Only a decline that breaks and sustains below 13.40 will compromise the timing of the anticipated breakout above "issue."
