Is Chesapeake Energy Closing in to Support?

New York, December 18th (TradersHuddle.com) - Shares of Chesapeake Energy Corporation (NYSE:CHK) are trading very close to calculated support at $16.52 with price action closing at just $16.74 and placing the stock near levels where traders will start paying attention.

Chesapeake's stock range is defined by its calculated support defined at $16.52 and by the resistance level at $17.83, which should be used by traders planning their trades. These support and resistance levels are based on a peaks and troughs algorithm of the stock's price action.

Traders wanting to establish a position should pay close attention to Chesapeake's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $17.83 might limit their upside, however, if the stock breaks resistance, it could be a good point to add to the position.

Chesapeake Energy Corporation (NYSE:CHK) 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.

TradersHuddle Search

Stock Search:


Site Search:

Loading

Technical Scans

Recent Trading Ideas

Latest Partner Headlines

Stock Market

Loading
Chart
o Dow Jones 17,307.93 ▲112.51 (0.65%)
o S&P 500 2,011.16 ▲16.51 (0.83%)
o NASDAQ 4,636.15 ▲70.01 (1.53%)
INDEXDJX:.DJI

Dow Jones

Company ID [INDEXDJX:.DJI] Last trade:17,307.93 Trade time:9:32AM EDT Value change:▲112.51 (0.65%)
INDEXSP:.INX

S&P 500

Company ID [INDEXSP:.INX] Last trade:2,011.16 Trade time:9:32AM EDT Value change:▲16.51 (0.83%)
INDEXNASDAQ:.IXIC

NASDAQ

Company ID [INDEXNASDAQ:.IXIC] Last trade:4,636.15 Trade time:9:32AM EDT Value change:▲70.01 (1.53%)

In The Wires

Copyright © 2013 TradersHuddle.com. All Rights Reserved.