On March 10, 2018 (US$54.04) we reported a breakout from a large bullish technical pattern known as a Duplex Horizontal (dashed lines) and provided targets of US$62 and US$67. Following our publication, the stock rallied to US$69.49 in June, 2018 (A) to fulfill and exceed our targets.
Cheniere Energy Inc. (Friday’s close US$65.44) has been trading within a horizontal trading range mostly between US$56 and US$70 for the past year (dotted lines). A sustained rise above US$70-71 would signal a breakout from this range and the resumption of the up-trend.
Only a decline below US$63-64 would be negative.
A rise above US$70-71 would signal Point & Figure targets of US$79 and US$84. Significantly higher targets are visible.
Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.
Chart source: www.decisionplus.com