After Yesterday's Rally of 1.31% Shares Could Potentially Pullback
Chesapeake Energy (NYSE:CHK) traded in a range yesterday that spanned from a low of $4.55 to a high of $4.74. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $4.59 on volume of 21.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
In the past 52 weeks, Chesapeake Energy share prices have been bracketed by a low of $1.50 and a high of $16.98 and are now at $4.64, 209% above that low price. The 200-day and 50-day moving averages have moved 1.58% lower and 6.32% higher over the past week, respectively.
SmarTrend recommended that its subscribers protect gains by selling shares of Chesapeake Energy on May 6th, 2016 by issuing a Downtrend alert when the shares were trading at $5.19. Since that call, shares of Chesapeake Energy have fallen 11.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.
Keywords: rebounders Chesapeake Energy