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Cheniere Energy up over 5.0% in November: What’s Next?

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Part 2
Cheniere Energy up over 5.0% in November: What’s Next? PART 2 OF 4

Can Cheniere Energy Gain Upward Momentum?

Cheniere Energy’s moving averages

Cheniere Energy (LNG) is currently trading 7.2% above its 50-day SMA (simple moving average) and 6.4% above its 200-day SMA, which indicates bullish sentiment in the stock. A positive 3Q17 earnings surprise, upward movement in LNG prices, and the recent MOU (memorandum of understanding) between Cheniere Energy and China National Petroleum could push Cheniere Energy’s 50-day SMA above its 200-day SMA, resulting in further bullish sentiment.

Can Cheniere Energy Gain Upward Momentum?

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Short interest in Cheniere Energy

Short interest in Cheniere Energy was 15.1 million shares as of November 10. At the same time, Short interest in LNG as a percentage of its float ratio has fallen to 6.49%, compared to last month’s average of 6.65%. This fall indicates bullish sentiment in the stock. Moreover, short interest in Cheniere Energy is still lower than the three-year average of 7.92%.

Cheniere Energy’s relative strength index

Cheniere Energy’s relative strength index (or RSI) was 60.4 as of November 10. Cheniere Energy is currently neither “overbought” nor “oversold.” However, it’s close to entering the overbought zone. An RSI value above 70 indicates that a stock is “overbought.”

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