LNG +10% Trade - Market Analysis for Apr 15th, 2016
by Mike Paulenoff
April 15, 2016 • 4:12 PM EDT
Mike added Cheniere Energy (LNG) to the MPTrader model portfolio on April 4, at 34.34, noting it had begun an initial up-leg (off its Feb low) in a new bull phase. He anticipated a blast through declining tops-line resistance at around 36.40 en route to a 45 area target zone.
The stock closed above 39 on Thursday, and then dipped on Friday, stopping Mike out for a more than 10% gain. Mike is still bullish on energy and holding other model portfolio positions to take advantage of the continued up-move he's been anticipating in oil.
See Mike's latest chart on LNG.
Mike Paulenoff is the author of MPTrader.com, a real-time diary of his technical analysis & trade alerts
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