set alert to buy before uptrend.
CHK has shown many patterns over the last year, with 3 flags and a double top pattern, and now the stock has broken out a flag pattern and has had a partial rise and has fallen to the support trendline but has had a breakout, this position will lead to the support trendline. Also the 100 MA is providing resistance and thats where the stop is.This is also backed by...
Hello Traders, Similar to my CL1! and USOIL charts I posted yesterday. Chesapeake Energy formed a very similar structure. I would be interested to see how well these 3 charts correlate with one another. The charts I am referring to are found below. Best, Chartistry
I believe that right now that CHK is a great buy. In a long term state of accumulation. Also in accumulation on the daily chart.
Near term catalyst- Bullish engulfing on 7/7 Bullish MACD crossing Broken distribution trend line RSI breaks out of over-sold conditions. In the intermediate term, CHK still appears to be moving in a range. Based on the upper line, it looks like 14 will be an important area. It it breaks through 14, there is a gap at ~18.50 that may be filled. If it meets...
Chesapeake Energy is a extremely weak fundamentally with a high PEG ratio. It is setting up with a Bear Flag that does not rise above the 50% fibonacci retracement level. A breakdown below $18.20 would trigger a short position. Owner of Grok Trade; trader of 17 yrs.