Upgrade Alert for Chesapeake Energy (CHK)
Chesapeake Energy (NYSE:CHK) was upgraded from Underweight to Equal Weight at Stephens today. The stock closed yesterday at $6.36 on volume of 60.1 million shares, above average daily volume of 41.8 million.
Over the past year, Chesapeake Energy has traded in a range of $1.50 to $16.98 and closed yesterday at $6.36, 324% above that low. 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%.
Chesapeake Energy Corporation produces oil and natural gas. The Company's operations are focused on discovering, developing and acquiring conventional and unconventional natural gas reserves onshore in the United States.
Chesapeake Energy has overhead space with shares priced $6.36, or 24.6% below the average consensus analyst price target of $8.44. The stock should discover initial support at its 200-day moving average (MA) of $5.72 and subsequent support at its 50-day MA of $4.87.
SmarTrend recommended that subscribers consider buying shares of Chesapeake Energy on June 8th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $4.99. Since that recommendation, shares of Chesapeake Energy have risen 34.0%. We continue to monitor CHK for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: analyst upgrades/downgrades Chesapeake Energy