Cheniere Energy has been sinking as the broader market advances. Now some traders may see risk of another push to the downside.

The first pattern on today’s chart is the series of lower monthly highs and lower monthly lows since early December. This contrasts starkly with the advance in the S&P 500, potentially reflecting bearish sentiment in the tanker stock.

Second, prices stalled in December slightly above their peak from late 2022. Some chart watchers may consider that a double-top reversal pattern.

Third, prices bounced above their 50-day simple moving average but could now be slipping back below it.

Fourth, stochastics are retreating from an overbought condition.

Finally, traders looking for potential levels may eye the March low of $152.31 or last year’s low at $135.

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