CHK is cyclically due for a bottom very very soon (if it can survive through these stormy seas). The cycle projected from major high to major high shows that we are due for a turning point in CHK sometime in the next quarter or two. THIS IS A VERY RISKY TRADE. There is a chance that if it works out you can make multiples on your investment. If it doesn't work out there is a REAL CHANCE OF 100% LOSS.
Comment:
9th April 2020 - CHK made a nice move higher today but closed the day lower. If one looks carefully though, it silently appears to have broken out of the wedge and is now in the process of backtesting the breakout. Next week should shed more colour on the situation.
Comment:
24th April 2020 - CHK up 45% today. This baby is just getting started :)
Trade closed: target reached:
8th June 2020 - CHK at $74 is a return of 461% on this trade. I am closing this trade out here.