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Cheniere Energy, Inc. Message Board

  • sandyeggojake sandyeggojake Nov 29, 2012 1:12 PM Flag

    $LGN TA 11/29.... Breaking out.

    $LNG has been held below a falling resistance trendline since may (closing prices 4/7 and 11/1), and the 11/1 high. Now over both and free to sprint higher. May face some chop at the tail line and old swing high close at $16.76 but this should get lighter.

    $LGN likely to have a monopoly on US $LNG export for several years. And the build is going ahead of plan. She's moving up....

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    • Update: Today's news is positive for the NG export biz, especially those seeking new licenses. I'll leave it at that, given $LNG already has their export license for their first plant. Of course it could help if/when they seek to expand.

      Techncially, on 11/29 after our above post, $LNG blew threw what was light resistance, which often makes us nervous...but on 12/4, we retested that level, and saw it converted support, allowing for today's advance.

      Now set up well to break the $17.50 mark for a retest 4/27 $18.74 52 wk high close mark, which is the last technical resistance bar.

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