Technical Analysis: Based on the latest data, Cheniere Energy (LNG) shows a bearish trend in the short term, with the stock declining 8.59% last week. The current price at $231.01 is testing key support levels.
The RSI-14 reading of 53.84 indicates neutral momentum, suggesting the stock is neither overbought nor oversold. The stock is trading above its 60-day SMA of $216.23, providing some medium-term support.
News Impact: Several significant developments are affecting LNG's price outlook:
Price Forecast for Next Week: Based on Fibonacci levels:
Trading Recommendation: SELL with the following rationale:
Target price range for next week: $219-227, representing potential downside of 5-8% from current levels.
The price of LNG is predicted to go up -17.57%, based on the high correlation periods with TPST. The similarity of these two price pattern on the periods is 98.55%.
LNG
TPST
At $600-$700/ton for incremental capacity expansion projects, Cheniere has some of the lowest-cost LNG projects on the global cost curve, well below the U.S. average of $800/ton and similar targets by Australian LNG producers.
Cheniere's contracts are very strong, with no price reopeners, no linkage to oil prices, and flexibility on delivery points.
Cheniere should have billions of dollars to deploy over the next few years toward stock repurchases, dividends or distributions, or further LNG projects.
Scotiabank
Price Target
$242 → $247
Upside
-1.05%
Barclays
Price Target
$202 → $253
Upside
-0.26%
Scotiabank
Price Target
$242
Upside
+7.45%