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Chesapeake Energ: The Losing Streak Continues (CHK)

By Nick Russo

Shares of Chesapeake Energ (NYSE:CHK) traded today at $1.67, breaking its 52-week low. So far today approximately 13.7 million shares have been exchanged, as compared to an average 30-day volume of 48.8 million shares.

Potential upside of 126.5% exists for Chesapeake Energ, based on a current level of $1.67 and analysts' average consensus price target of $3.78. The stock should find initial resistance at its 50-day moving average (MA) of $2.05 and further resistance at its 200-day MA of $2.86.

In the past 52 weeks, Chesapeake Energ share prices have been bracketed by a current low of $1.67 and a high of $5.12 and are now at $1.67. The 200-day and 50-day moving averages have moved 1.41% lower and 2.98% lower over the past week, respectively.

Chesapeake Energy Corporation produces oil and natural gas. The Company's operations are focused on discovering, developing and acquiring conventional and unconventional natural gas reserves onshore in the United States.

SmarTrend recommended that its subscribers protect gains by selling shares of Chesapeake Energ on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $2.72. Since that call, shares of Chesapeake Energ have fallen 37.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows chesapeake energ

Ticker(s): CHK