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Chesapeake Energ Rises 15.95% on Heavy Volume: Watch For Potential Pullback

By Nick Russo

Chesapeake Energ (NYSE:CHK) traded in a range yesterday that spanned from a low of $0.69 to a high of $0.74. Yesterday, the shares gained 15.9%, which took the trading range above the 3-day high of $0.62 on volume of 35.7 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 Energ has traded in a range of $0.55 to $3.57 and is now at $0.70, 28% above that low. Over the last five market days, the 200-day moving average (MA) has gone down 1.4% while the 50-day MA has declined 6%.

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

Keywords: rebounders chesapeake energ

Ticker(s): CHK