Another stock that's trading within range of a solid breakout trade is Cheniere Energy (LNG), an energy company primarily engaged in liquid-natural-gas-related businesses. This stock is off to a hot start in 2012, with shares up over 60%.
If you take a look at the chart for Cheniere Energy, you'll see that this stock has sold off hard from its April high of $18.92 to a recent low of $10.51 a share. During that smack down, shares of LNG have consistently made lower highs and lower lows, which is bearish technical price action. That said, shares of LNG have started to rebound right off its 200-day moving average of $12.05 a share, and the stock is now moving within range of triggering a near-term breakout trade.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV