LNG LTD FPO 10 Nov Opinion: Looking like a l(o)ng Price: 1.42...

LNG LTD FPO 10 Nov
Opinion: Looking like a l(o)ng Price: 1.42 MONITOR
Technical Points
Resistance
Major 2 1.44
Minor 1.43
Major 1 1.42
Minor 1.40
Gravitation 1.38
Minor 1.37
Major 1 1.36
Minor 1.34
Major 2 1.32
Support
Analysis:
Liquefied Natural Gas Limited is focused on Liquid Natural Gas (LNG) projects in Australia, Papua New Guinea, Indonesia, Kenya and Iran.

Having completed the environmental impact statement for its planned LNG processing plant at Gladstone in Queensland, the company is well on track to capitalise on the booming LNG market.

LNG Limited signed up Arrow Energy (AOE) to supply the plant with coal seam gas (CSG).

The Gladstone Fisherman’s Landing project is firmly on track to be the world’s first operational LNG plant fed by CSG.

The company has also stuck to cost guidance for the project of US$500 million plus port costs, which may be around US$80 million.

Long-term demand for energy and hence CSG and LNG is forecast to remain strong, putting LNG Limited in a particularly strong position.

With costs under control and timing on track, we feel there is significant upside potential from this project.

Likely Price Action:
After finding its bottom around $1.25-$1.30 over the last week, LNG popped up on the radar yesterday.

The stock broke above its downtrend, and exploded higher on strong volume.

The local market is also indicating some bullish signals, which could create a further upside catalyst for speculative stocks like LNG in the short term.

We would look for LNG to head aggressively higher into the next resistance at $1.55.

If this is broken through, we could see some more explosive action towards the all-time high just below $2.

We would be focusing on buying LNG anywhere between $1.35 and $1.45, aiming towards this ultimate target around $2.
LNG LTD FPO 10 Nov
Opinion: Looking like a l(o)ng Price: 1.42 MONITOR
Technical Points
Resistance
Major 2 1.44
Minor 1.43
Major 1 1.42
Minor 1.40
Gravitation 1.38
Minor 1.37
Major 1 1.36
Minor 1.34
Major 2 1.32
Support
Analysis:
Liquefied Natural Gas Limited is focused on Liquid Natural Gas (LNG) projects in Australia, Papua New Guinea, Indonesia, Kenya and Iran.

Having completed the environmental impact statement for its planned LNG processing plant at Gladstone in Queensland, the company is well on track to capitalise on the booming LNG market.

LNG Limited signed up Arrow Energy (AOE) to supply the plant with coal seam gas (CSG).

The Gladstone Fisherman’s Landing project is firmly on track to be the world’s first operational LNG plant fed by CSG.

The company has also stuck to cost guidance for the project of US$500 million plus port costs, which may be around US$80 million.

Long-term demand for energy and hence CSG and LNG is forecast to remain strong, putting LNG Limited in a particularly strong position.

With costs under control and timing on track, we feel there is significant upside potential from this project.

Likely Price Action:
After finding its bottom around $1.25-$1.30 over the last week, LNG popped up on the radar yesterday.

The stock broke above its downtrend, and exploded higher on strong volume.

The local market is also indicating some bullish signals, which could create a further upside catalyst for speculative stocks like LNG in the short term.

We would look for LNG to head aggressively higher into the next resistance at $1.55.

If this is broken through, we could see some more explosive action towards the all-time high just below $2.

We would be focusing on buying LNG anywhere between $1.35 and $1.45, aiming towards this ultimate target around $2.