smehltrett

CHK pull back incoming.

NYSE:CHK   CHESAPEAKE ENERGY CORP
CHK has been on an impressive tear but looks to be forming a rising wedge on the daily and weekly charts. RSI is also approaching overbought territory. Hoping to see some pull back to the .382 area and will be looking to enter long around $4.65-$4.35 area. Upside potential here looks impressive.
Comment: After some more movement upwards it looks like we are finally starting to break down out of this rising wedge. First area of interest right around $5.00 at the .236 will be watching to see if we can break that level. If we manage to break down beyond $5 I will be looking for entry around my that $4.65 area
Trade active: smehltrett
just now
rising wedge has broken down as expected. Will be looking to make an entry hopefully today at my $4.65 target

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rising wedge has broken down as expected. Will be looking to make an entry hopefully today at my $4.65 target
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