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After Yesterday's Rally of 5.61% Shares Could Potentially Pullback

By Shiri Gupta

Chesapeake Energy (NYSE:CHK) traded in a range yesterday that spanned from a low of $4.21 to a high of $4.57. Yesterday, the shares gained 5.6%, which took the trading range above the 3-day high of $4.50 on volume of 17.2 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Chesapeake Energy has traded in a range of $1.50 to $16.98 and is now at $4.51, 201% above that low. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 6.3%.

SmarTrend is tracking the current trend status for Chesapeake Energy and will alert subscribers who have CHK in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Chesapeake Energy

Ticker(s): CHK