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Chesapeake Energ (CHK) Approaches New Upside Target of $4.13

By James Quinn

Shares of Chesapeake Energ (NYSE:CHK) opened today above their pivot of $3.85 and have already reached the first level of resistance at $4.03. Should the shares continue to rise, the resistance pivots of $4.13 and $4.41 will be of interest.

Over the past year, Chesapeake Energ has traded in a range of $2.53 to $8.20 and is now at $4.09, 62% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has advanced 6.3%.

Based on a current price of $4.09, Chesapeake Energ is currently 7.5% above its average consensus analyst price target of $3.78. The stock should find initial resistance at its 50-day moving average (MA) of $4.87 and further resistance at its 200-day MA of $5.72.

SmarTrend is monitoring the recent change of momentum in Chesapeake Energ. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Chesapeake Energ in search of a potential trend change.

Keywords: pivot alerts chesapeake energ

Ticker(s): CHK