Clean Energy (CLNE) Could Soon Be a “Buy”

Clean Energy (CLNE) has not formed a clear trend since the stock debuted at $12 in May of 2007. This is somewhat common for companies in emerging industries, as investors are still sizing up future prospects.

The good news is investors seem to agree that Clean Energy is worth no less than $10 – $12 dollars a share. You can see from this chart of CLNE there is a strong zone of support at this price range. Since 2007, the stock has held above this zone ten times. CLNE traded below $10 only during the financial crisis of 2008 – 2009.

See larger image

Let’s look at how Clean Energy is trading now. As you can see, after a steep decline, CLNE is holding above the support level of $12.

What’s more, a reverse head-and-shoulders pattern is forming. Now is not the time to buy… we must let the pattern play out.

See larger image

But if CLNE breaks above $15, the “neckline” of the pattern, then we’ll get the bullish signal we need to buy shares.

If CLNE breaks above $15 it should head higher to at least the $17.50 to $18.50 range. The top end of that range should hand us a nice 23% gain.

We’ll keep an eye on this intermediate-term pattern… as well as the long-term prospects of the natural gas infrastructure market.

If you haven’t done so already read the Survive & Prosper issue on “Natural Gas – The Future of Energy”.

How CEOs are Earning 335x MORE Than Their Own Employees

What if I told you up to 95% of companies currently trading on the stock market today are essentially stealing money right out of your pocket!? This includes some of the biggest names in the corporate world… companies that trade millions of shares a day, who you might be invested in right now!

Discover just how far the deceit on Wall Street goes and how you can still uncover many lucrative opportunities in the stock market today, in our new infographic: How CEOs are Earning 335x MORE Than Their Own Employees

LEARN MORE
Categories: Economy

About Author

Adam O'Dell has one purpose in mind: to find and bring to subscribers investment opportunities that return the maximum profit with the minimum risk. Adam has worked as a Prop Trader for a spot Forex firm. While there, he learned the fundamentals of trading in the world’s largest market. He excelled at trading the volatile currency markets by seeking out low-risk entry points for trades with high profit potential. An MBA graduate and Affiliate Member of the Market Technicians Association, Adam is a lifelong student of the markets. He is editor of our hugely successful trading service, Cycle 9 Alert.