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Chesapeake Energ (CHK) Approaches New Upside Target of $3.07

By Amy Schwartz

Shares of Chesapeake Energ (NYSE:CHK) have bullishly opened above the pivot of $3.00 today and have reached the first resistance level of $3.05. Should the shares continue to rise, the resistance pivots of $3.07 and $3.13 will be of interest.

Potential upside of 25.3% exists for Chesapeake Energ, based on a current level of $3.02 and analysts' average consensus price target of $3.78. Chesapeake Energ shares should encounter resistance at the 200-day moving average (MA) of $3.78 and support at the 50-day MA of $2.68.

Chesapeake Energ share prices have moved between a 52-week high of $5.60 and a 52-week low of $1.71 and are now trading 77% above that low price at $3.02 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.7% while the 200-day MA has slid 0.7%.

SmarTrend recommended that subscribers consider buying shares of Chesapeake Energ on January 7th, 2019 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $2.35. Since that recommendation, shares of Chesapeake Energ have risen 28.8%. We continue to monitor CHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: pivot alerts chesapeake energ

Ticker(s): CHK