CookieMonsta

CHK double bottom and descending wedge.

Long
NYSE:CHK   None
In this chart you can see that the red line is representing a potential double bottom , as well as the light blue lines representing a descending wedge . currently watching for a bounce and test of the top of our descending wedge , and possible breakout upwards afterwards for the long term. This setup may be quickly invalidated due to fundamentals that the company is going through at the moment, and is severely affected by the price of gas. As one of the most traded stocks on the NYSE, this is definitely one to keep your eye on.

Comments

in the end trading is a game of probabilities, thanks for sharing your work, take a look at my content you will find it valuable
+2 Reply
CookieMonsta transparent-fx
@transparent-fx, gave you a follow, thanks for stopping to take a look at my idea!
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Great work! Looks like this stock is ready to take off with Natural gas prices now increasing.
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@zohn99, thank you!, up 30% since my call and i believe its only the beginning of a more long term reversal :) hoping for a break out of the wedge here but not holding my breath
+1 Reply
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