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CHK

Short-term bearish on CHKI am holding a short-term bearish outlook on Chesapeake Energy Corporation in response to a few technical indicators. 1. Large selling volume that occurred first thing yesterday morning. 2. Nearing a bearish MACD crossover on the 1hr time frame. 3. Possible descending triangle pattern forming on the 1hr time frame. Still a novice to identifying chart patterns so that may not be totally accurate. Things against this short view that I see: 1. A slight positive divergence in the MFI on 1hr time frame. 2. Price does not appear to be overextended. 3. Overall bullish context for CHK as of now. CHK is still in an overall bullish context so this short idea is only for the short-term. Things to note: I'm still a novice to technical analysis and the trading world (>1 years experience), would only be paper trading this as I'm still learning.
CShort
by tyler_sim
bulls attempting to absob supply $UGAZ $DGAZ $NG_FBulls are attempting absorb the supply evidence by the higher lows present. The theme remains that demand exceeds supply. Given that prices closed on support I believe a LONG entry is reasonable with a "tight stop" as shorts are buying into resistance. I believe we are seeing strong hands maintain their positions while new entries respect that they are chasing while a few shorts sneak in. I still don't feel rushed to enter carelessly into the "widow maker." My re-entries are noted below. Good Luck!
AMEX:UNG
by jamison.gaddy
CHK short term jump, then H&S ReversalAs I mentioned in my Natural Gas Forecast, I believe that Natural Gas is ready to move up, so I decided to check out CHK which I believe is in the NG business. It appears that CHK is nearing the bottom of a descending wedge with the potential to break out and form a great H&S reversal pattern. The hourly waves are all in good position and the Day wave is about to turn positive. I expect the move to begin in the next day and last for a few days. The price action also looks very similar to where it was on 4-08-16, which is when it jumped 60% in just a few days, which is what I believe it is going to do again.
CLong
by gLloW
CHK COVERED CALLS (LONG NATGAS PLAY)Okay, so my long UNG play didn't work out; after I entered the trade, NGAS continued to tank -- horribly, as forecasts for a mild winter came to the forefront and natty gas reserves continued to build to record levels. Ugh. Nevertheless, i still want a natty gas long play. CHK is the most beaten down price-wise of the top ten nat gas producers, so it makes for a potentially cheap covered call play that offers a little bit more flexibility in terms of "working off" an error in timing the entry. So, I'm diving in here, with the full expectation that this could dive further, in which case I will continue to sell short calls against the long stock position: 100 Shares CHK at 4.47 Sell Feb 19 5 Short Call (.55 credit at the mid price) $388 for a mid price fill (i.e., cost basis in the 100 long shares will be reduced to 3.88/share).
CLong
by NaughtyPines
CHK- Short Term Bullish. Intermediate and Long Term TBDNear term catalyst- Bullish engulfing on 7/7 Bullish MACD crossing Broken distribution trend line RSI breaks out of over-sold conditions. In the intermediate term, CHK still appears to be moving in a range. Based on the upper line, it looks like 14 will be an important area. It it breaks through 14, there is a gap at ~18.50 that may be filled. If it meets resistance at 14, I think we may see new lows. Fundos, in brief- Stock could be influenced by Icahn rumors, natural gas movements, updates regarding the dividend, and earnings/forward guidance, specifically around returning to being FCF positive, and reducing debt.
CLong
by dsorchestra90
CHK: Overreaction to Earnings Presents a Buying Oppurtunity?Please ignore the elliot wave markings on this chart as it is part of a greater analysis of CHK that I have been working on and is incomplete. I will however be mentioning some of my findings later on in this analysis. The main reason I wanted to throw this chart out while it is incomplete, was to point out a possible trade to the long side here. What seems to be forming here is an ascending wedge, and by rule it can be considered complete. However the timing is puzzling as the last three times CHK has touched or at least came close to touching the upper trendline before beginning its' descent. What's more puzzling is that the earnings report released actually BEAT expectations and RAISED guidance. The perceived massive loss isn't what it appears to be. You can read more on that here: www.investopedia.com So far in my elliot wave analysis I have this pegged as either a B wave or a wave 4 in a c wave. Either way these are corrective waves and corrective waves can be unpredictable. While this wave can be called complete it can easily turn into a double zig zag which will allow price to touch the upper trendline. What I am trying to say is this; despite todays' scary price action, this may be a great opportunity to try a long position here. You can have a tight stop set below todays low, or if you don't mind the extra risk, 14.19. Target for this trade would be 16.50-17.80. The risk-reward ratio mixed with the surprisingly upbeat earnings report is to huge to ignore. If however the bottom falls out tomorrow and price in CHK gets hammered or gaps down big, forget about it. That would indicate that the wave has completed and the next wave down to test the lows has begun.
C
by Ape
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