AcornWealthCorp
Long

GLNG - Long at the Breakout of resistance from $27/28 to $33/37

NASDAQ:GLNG   GOLAR LNG LIMITED
GLNG breaking out above long term resistance & showing strong upward momentum. Moneyflow pushed really high at the breakout point along with huge volume . We think it can go as high as $37.33.
In the weekly frame it shows a possible Flag formation with similar target.

Trade Criteria
Date first found- January 25, 2017
Pattern/Why- Breakout of Longterm resistance.
Entry Target Criteria- Break of $28.03 or Retrace back to $27.03
Exit Target Criteria- First target $33.83, Second target $37.33
Stop Loss Criteria- $24.83
Trade Status: Pending
Comment: January 31st- Made a lower, but closed bullish. Still holding to our stoploss. Wait & see situation.
January 30th- Strong decline breaking below EMA lines, not looking good as long.
January 26th- Declined a bit & Traded into pull back entry at $27.03, but closed bullish. About 3% higher from entry price.
Comment: February 10th- Went up huge 4.9% today, and made a higher high. Looking very good as long. Updating stoploss to $26.61
February 9th- Nice reversal after testing MA 20, looking strong now.
February 7th- Seems rolling over, not looking very good as long at this time. Wait & see situation.
February 3rd- Nice upward move from EMA lines, showing strong upward move.
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Comments

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