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Construction at Cheniere Energy Inc.'s liquified natural gas (LNG) terminal is seen in this aerial photograph taken in Sabine Pass, Louisiana, U.S., in December 2013.

via Bloomberg

Cheniere Energy Inc. declined from $82.32 to $22.80 (A-B) below its falling 40-week moving average (40wMA), rallied to ±$45 (C) and then stayed in a trading range mostly between $35 and $45 for about six months. This price action produced a bullish technical pattern known as a V-extended (dashed lines).

The recent rise above the top of this pattern signalled renewed investor interest, a breakout and the start of a new up-leg (D). Only a decline below $41 to 42 would be negative.

Point & Figure measurements provide targets of $59 and $64. The large V-extended formation (dashed lines) supports higher targets.

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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

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About the Authors
Senior Technical Analyst at Phases & Cycles Inc.

Monica Rizk, Senior Technical Analyst, has a Bachelor's degree in Business Administration and completed the Canadian Securities Institute course. She has been with Phases & Cycles since September 2000 and specializes in the research of Canadian and US stocks using Point & Figure as well as bar chart analysis. More

President of Phases & Cycles Inc.

Ron Meisels, President, Phases & Cycles Inc., has been active as an Analyst since 1971. He was Vice President and Director of Technical Research of Nesbitt Thomson (now BMO Nesbitt Burns) from 1982 to 1990. He was ranked among the top three technical analysts by Canadian Institutions for six consecutive years (Brendan Wood Survey). More

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