VantageMarkets

NFE: Can support hold?

Long
NASDAQ:NFE   New Fortress Energy Inc.
New Fortress Energy Inc

Short Term - We look to Buy at 45.18 (stop at 39.89)

Daily signals for sentiment are at oversold extremes. Bespoke support is located at 45.00. Price action continues to gravitate towards crucial support levels with aggressive selling interest. Support could prove difficult to breakdown. We therefore, prefer to fade into the dip with a tight stop in anticipation of a move back higher.

Our profit targets will be 59.40 and 62.90

Resistance: 53.00 / 60.00 / 67.00
Support: 45.00 / 36.00 / 21.00

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