CQP double bottom ahead of 3Q earningsAfter 2015 tumble down and humble recovery in the beginning of 2016 Cheniere Energy Partners is preparing new ground to rise up ahead of 3Q earnings. Recently the stock has formed double bottom at $26 where several technical factors converge together on the bullish side.
Firstly the area used to serve as a resistance and now has turned into the respective support. Secondly the area has collected several HULL moving averages into one bundle forming divergence. Thirdly bullish volume increase is eye-catching when the price remains almost stagnant.
All factors combined might stipulate the price go up coupled with increasing volatility in energy sector.
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