This Stock Is Setting Up for a Big Move

[Trading With Larry Benedict]( This Stock Is Setting Up for a Big Move By Larry Benedict, editor, Trading With Larry Benedict Since peaking in July, both the Nasdaq and S&P 500 have struggled for direction. The market’s constant rotation between value and growth stocks has been a key reason for that. One stock straddles both camps – the U.S.’s largest liquified natural gas producer and exporter, Cheniere Energy (LNG). Its recent peak in August is a more than sixfold increase in its stock price since March 2020. Yet despite smashing Q2 net income forecasts and raising forward guidance, LNG is trading at a low price-to-earnings (P/E) ratio of around 4.8. That’s around half of the sector it trades in. After trading sideways for the first half of 2023, LNG rallied strongly through August. But it has since become stuck in a sideways range again. So today I want to see what’s in store from here… Recommended Link [Man who Predicted “End of Cash” Issues New Warning for September 20th]( [image]( In 2016, former banking VP Teeka Tiwari warned: “A ban on cash is coming sooner than you think...and when it does, it will strip you bare of any privacy.” His prediction is finally coming true, and if you don’t prepare by September 20th… You could end up holding a bunch of worthless US dollars. [Click here to see this shocking new video exposing the government’s plan to recall the US dollar and learn how to prepare.]( -- A Consolidating Triangle Pattern LNG sold off heavily in December last year but initially rebounded in early January. Yet that rally was short-lived: Cheniere Energy (LNG) [Image] Source: eSignal After initially rallying from oversold territory (lower grey dashed line), the Relative Strength Index (RSI) couldn’t break through resistance (green line). This means there wasn’t enough buying momentum to drive LNG higher. Instead, the RSI stayed stuck in its lower band (orange circle). And LNG continued to drift. Apart from a brief burst higher in late February and March, the RSI remained in its lower range until June. The longer momentum dwindles like this, the more difficult it becomes for a stock to rally. Only when the RSI finally broke through resistance and into its upper range in June did LNG’s rally get underway. That rally saw LNG gain as much as 26% in a little over two months. The 10-day Moving Average (MA, red line) bullishly crossing above the 50-day MA confirmed the rally. And both MAs then tracked higher. But after hitting that peak at ‘A,’ the 10-day MA shows that LNG started to consolidate into a sideways pattern. This converging triangle pattern is marked by a series of lower highs (upper orange line) on the upside… and LNG bouncing off short-term support (lower orange line). Take another look: Cheniere Energy (LNG) [Image] Source: eSignal When a stock breaks out of a triangle pattern like this, it can often lead to a big move. The other thing to note is that the pattern is unfolding right as the RSI has again been retesting support (red circle). So what should we look out for next? Free Trading Resources Have you checked out Larry's free trading resources on his website? It contains a full trading glossary to help kickstart your trading career – at zero cost to you. Just [click here]( to check it out. Holding Short-Term Support When the RSI gets stuck in its lower band, LNG has been unable to maintain momentum. This happened in January through February and again from April through June. So if the RSI falls through support and gets stuck in its lower half, LNG will also roll over and fall. Both LNG and the RSI holding their support levels right now is key to any future rally. If the RSI can rally into its upper range and LNG breaks through resistance (upper orange line), that could set off the next leg of LNG’s rally. We’d then look for the 10-day MA to accelerate above the 50-day MA as further evidence of that up move. Regards, Larry Benedict Editor, Trading With Larry Benedict Mailbag Where do you think LNG is headed in the coming days? Write in to feedback@opportunistictrader.com. IN CASE YOU MISSED IT… [IRS Loophole Allows You to Collect “Amazon Royalties” by September 14th…]( Thanks to an obscure IRS loophole (on page 1,794 of the U.S. tax code)… Regular Americans can now collect payouts from what Brad Thomas calls “Amazon’s secret royalty program.” (It’s a loophole so big, you could drive a monster truck through it…) [And in this video]( he shows you everything you need to know, including: - The history behind these “secret royalty programs” and exactly how they work… - How YOU can collect up to $28,544 per year… (Or more depending on the size of your stake…) - The easiest way to INCREASE your payouts – without investing any additional money! - And why billionaire Ray Dalio sold off his entire stake in Amazon… And increased his stake in the “Amazon’s secret royalty program” by over 500%… But you must hurry if you want to participate… Because the cutoff deadline for the next payout is September 14th… To find out more… [[Watch Video] How to Get Started With “Amazon’s Secret Royalty Program”…]( [image]( [The Opportunistic Trader]( The Opportunistic Trader 55 NE 5th Avenue, Delray Beach, FL 33483 [www.opportunistictrader.com]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. This editorial email containing advertisements was sent to {EMAIL} because you subscribed to this service. To stop receiving these emails, click [here](. The Opportunistic Trader welcomes your feedback and questions. But please note: The law prohibits us from giving personalized advice. To contact Customer Service, call toll free Domestic/International: 1-888-208-6550, Mon–Fri, 9am–5pm ET, or email us [here](mailto:feedback@opportunistictrader.com). © 2023 Omnia Research, LLC. All rights reserved. Any reproduction, copying, or redistribution of our content, in whole or in part, is prohibited without written permission from Omnia Research, LLC. [Privacy Policy]( | [Terms of Use](