NYSE:CHK CHESAPEAKE ENERGY CORP
Price currently hovering around key level 17.30. Waiting for PA confirmation to set up a short position down to targets as follows: 13.80 then down to 9.00. However, if price does break above 17.30 and the upper bound of the channel then our upside targets would be as follow: 21.30. However, primarily i believe price would decrease as the earnings are also estimated have decreased. Being a energy company the value of oil falling also has a effect on the company.