Stock Chart Analysis GLNG

Stock Chart Analysis GLNG

Golar LNG Limited (USA) (Public, NASDAQ:GLNG)

GLNG has been trading a in a repeating series of high volume breakouts followed by lower volume consolidation patterns. This is of course healthy and fairly typical in sustainable trends. I've been keeping an eye on GLNG because as the markets were taking a beating and dry shippers were being taken out to the woodshed, GLNG refused to budge. While technically GLNG is in a different shipping sector from the dry bulks, I would of expected some of the weakness to spill over. It didn't and GLNG has been patiently hanging out near it's all time highs. It looks like GLNG is attempting to breakout of it's recent consolidation base and with that move it's possible that it will break out to new all time highs.


Good Trading,


Joey

for more analysis, check out downtowntrader.com