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Chesapeake Energy (CHK) Breaks Through Support at $5.19

By James Quinn

Shares of Chesapeake Energy (NYSE:CHK) opened today below their pivot of $5.36 and have already reached the first level of support at $5.19. Should the shares continue to fall, the support pivots of $5.09 and $4.82 will be of interest.

There is potential upside of 44.5% for shares of Chesapeake Energy based on a current price of $5.17 and an average consensus analyst price target of $7.47. The stock should find resistance at its 200-day moving average (MA) of $5.72, as well as support at its 50-day MA of $4.87.

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 $5.17, 244% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 6.3% while the 200-day MA has slid 1.6%.

SmarTrend recommended that its subscribers protect gains by selling shares of Chesapeake Energy on February 22nd, 2017 by issuing a Downtrend alert when the shares were trading at $6.00. Since that call, shares of Chesapeake Energy have fallen 11.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts Chesapeake Energy

Ticker(s): CHK