Long
CHK: Do Not Count it Out
In my last post I presented a possible long position after what appeared to be an over reaction to earnings, but I also warned with a brake of the wedge pattern we could test the lows. After gapping down the following day, CHK rallied strong and put in a bullish reversal candle and followed it up with a continuation on Friday. So far the gap down appears to have been a fake out and the possibility of getting into the $17 range remains. Two key areas of resistance is 15.50 and 16. Support at 14.70.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.