LNG our Free Stock Pick for Tue Feb 1st 2011
As oil & gas giant Exxon Mobil Corp. (XOM) reported its most profitable quarter since 2008 and sent energy stocks higher today, one of the biggest winners in this sector was Cheniere Energy, Inc. (LNG). LNG rose 97, cents or 15.30%, on double the average volume.
With oil prices rising due to unrest in Egypt, we could see a continuation of momentum in all energy stocks, including LNG. which could breakout above its multi-year high at 7.62 and through the upper channel line toward the 8.50 area.
Preferred entry (buy stop) price is at 7.45, with a stop loss at 7.00. See our Trading Rules page for more detail.