• Return to Headlines

Next Support Level for Chesapeake Energ (CHK) is $1.29

By James Quinn

Shares of Chesapeake Energ (NYSE:CHK) opened today below their pivot of $1.43 and have already reached the first level of support at $1.37. Should the shares continue to fall, the support pivots of $1.29 and $1.15 will be of interest.

Chesapeake Energ share prices have moved between a 52-week high of $4.98 and a 52-week low of $1.26 and are now trading 9% above that low price at $1.38 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.8% while the 200-day MA has slid 1.6%.

Potential upside of 175.1% exists for Chesapeake Energ, based on a current level of $1.38 and analysts' average consensus price target of $3.78. The stock should run into initial resistance at its 50-day moving average (MA) of $1.76 and subsequent resistance at its 200-day MA of $2.58.

SmarTrend recommended that its subscribers protect gains by selling shares of Chesapeake Energ on May 9th, 2019 by issuing a Downtrend alert when the shares were trading at $2.72. Since that call, shares of Chesapeake Energ have fallen 46.7%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: pivot alerts chesapeake energ

Ticker(s): CHK