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SmarTrend Watching for Potential Rebound in Shares of Chesapeake Energ After 1.33% Loss

By Shiri Gupta

Chesapeake Energ (NYSE:CHK) traded in a range yesterday that spanned from a low of $4.05 to a high of $4.16. Yesterday, the shares fell 1.3%, which took the trading range below the 3-day low of $4.13 on volume of 18.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Chesapeake Energ share prices have been bracketed by a low of $3.93 and a high of $8.20 and are now at $4.07, 4% above that low price. The 200-day and 50-day moving averages have moved 1.58% lower and 6.32% higher over the past week, respectively.

SmarTrend recommended that its subscribers protect gains by selling shares of Chesapeake Energ on May 31st, 2017 by issuing a Downtrend alert when the shares were trading at $5.00. Since that call, shares of Chesapeake Energ have fallen 17.1%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders chesapeake energ

Ticker(s): CHK