Energy stocks are leading the market higher. And one of its very own, Cheniere Energy (LNG), appears to be working on a whopper of a breakout.
Today’s chart of LNG highlights the bullish potential for this uber-strong energy stock.
Looking at the chart below, we see a very long rising trend channel that is also narrowing. Put bluntly, we don’t see this long of a pattern very often – 18 years!
As you can see, LNG has bumped up against the top of the channel twice… both times ending with a turn lower. But this time, price is breaking out at (1). And it could be a whopper of a breakout!
If price continues to hold above the breakout line, then expect Cheniere Energy (LNG) to remain awfully bullish. Stay tuned!
$LNG Cheniere Energy Stock Price Chart
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