NYSE:CHK   CHESAPEAKE ENERGY CORP
ADX
56 1 2
adx
This is a nice opportunity for a short trade based on the ADX crossing. Target for this trade is the support area around $ 1.52 and the stop is at the high of the previous bar at $ 5.81.
It got a very good risk/reward ratio of 2.5.
The 1st 33% of the position will be sold at $3,99 which is at half of the initial risk.
The 2nd 33% of the position will be sold at $3,38 which is at 1R
The other 33% are running down to the target at $1,52.
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