GLNG - LNG Shipping Stocks: Preparation For A Bullish Move

2024-05-07 02:50:13 ET

Summary

• The UP World LNG Shipping Index (UPI) lost 1.24% last week, while the S&P 500 index gained 0.55%.
• The UPI underwent a rebalance with no changes in constituents, but weights were adjusted.
• Dynagas LNG Partners and Awilco LNG saw double-digit rises, while other companies showed resilience and formed a hammer TA pattern.

The UP World LNG Shipping Index (UPI) lost 1.92 points or 1.24% last week, reaching a closing value of 152.38 points. This index monitors the stocks of companies that specialise in LNG shipping. In contrast, the S&P 500 ( SPX ) index, representing US stocks, gained 0.55%. The image below displays both indices....

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