BATS:CHK   Chesapeake Energy Corporation
I posted a similar setup in CHK a few weeks ago, however that setup failed to materialize before any buy signal was triggered.

A similar setup is in the works for CHK , however the strength of the move as seen by RSI isn't helping my confidence in a breakout. That said, my models pick this up as a potential scalper, and therefore I stick with it. Above 20.60 without breaking down would confirm a buy signal with targets seen on chart.

Keep stops tight on this one if you enter!


CHK is a bit frustrating, however with wider stops on this, haven't been stopped out thus far. Curent stop about 19, however with the market potentially getting jumpy, this may get hit. In any case, I'll stay persistent with this one as the setup is still there for a nice gainer.
Making a good effort to break out now. RSI showing strength behind the move. Holding 20.60 is key to sustaining move higher. If you missed the initial break, and 20.60 is tested and holds, take a shot at it for a few point gain.