Long LNG at Breakout level
Global LNG demand is expected to rise significantly by 2040, driven by industrial coal-to-gas switching in China and increased usage in South Asian and Southeast Asian countries to support economic growth. As OPEC+ decided to prolong crude oil supply cuts, we may see surge in natural gas prices and in LNG price. Going into the summer months LNG prices will also be supported by seasonal demand.
Taking these factors into account, it could be a good swing trade idea to open LONG position in CHENIERE ENERGY, INC. (LNG). The breakout level at around $165 per share could provide STRONG BUY signal.
LNG is rated "Strong Buy" with a 12-month target price of $197.61, a 23.04% upside from the current price of $160.61. On P/E ratio of 7.8x the company trades cheaper than its peers. Market sentiment towards the company looks positive.
I consider LNG as a good candidate for a swing trading supported by LNG price growth and seasonality factor.
Taking these factors into account, it could be a good swing trade idea to open LONG position in CHENIERE ENERGY, INC. (LNG). The breakout level at around $165 per share could provide STRONG BUY signal.
LNG is rated "Strong Buy" with a 12-month target price of $197.61, a 23.04% upside from the current price of $160.61. On P/E ratio of 7.8x the company trades cheaper than its peers. Market sentiment towards the company looks positive.
I consider LNG as a good candidate for a swing trading supported by LNG price growth and seasonality factor.
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