CHK Compression
By Johns Wu on Jan 24, 2006
CHK, Chesapeake Energy Corp, is a stock I’ve been following for awhile, and today it popped up on my ascending triangle (pre-breakout) scan.
This stock is going to move soon as the two dominant trendlines converge. A low risk approach to this chart would be to play the break of either trendline. Also keep in mind the CHK insider buying that has been going on lately.
This entry was posted on Tuesday, January 24th, 2006 at 9:48 pm and is filed under Annotated Analysis.
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Due to Oil data, CHK dropped by 3.6% and it seems like it will touch $32 before turning. I believe it has strong resistance at $33.5