GLNG Stock Forecast: Will Golar LNG Stock Price Bounce Back?
Golar LNG stock price (NASDAQ: GLNG) lost approximately 5.61% in the previous week, showing bearishness. At the beginning of March 2024, the GLNG stock price broke out above the 50-day and 200-day EMA. Since then, it has been trending upward, forming higher highs, which indicates buyer dominance.
However, on 24 July 2024 after touching a high of $36 it halted down and took a support near the $30 level and bounced.
Golar LNG stock price sustained above the 50-day and 200-day EMA indicating buyers are still in the stock. Any short-term downfall could absorbed near the 50-day EMA support.
Golar LNG’s stock price closed the previous session at $31.15 with an intraday loss of 2.78%. The market capitalization stands at $3.26 Billion.
Golar LNG Inc. has scheduled its next quarter earnings for 26 Nov, 2024. Market analysts have estimated an EPS of $0.41 and revenue of $66.6 million.
If the company meets these estimates, the stock rally may continue, potentially reaching new highs. However, if the company disappoints in earnings, the rally could come to a halt.
Will GLNG Stock Price Break Below $30 Mark?
Golar LNG stock price (NASDAQ: GLNG) is still trading above the key exponential moving averages of 50-Day and 200-Day. On a daily, weekly, and monthly time frame, the GLNG stock is bullish.
Source: NASDAQ: GLNG daily chart by TradingView
The stock price currently facing mild weakness showcasing bears are trying to grab the trend from the bull. However, It has a solid support level of $30 but if it breaks the Golar LNG stock price may see further downside.
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