Chesapeake ( CHK ) Analysis 10/27/08 - Technical Analysis

Chesapeake Energy ( CHK ) Technical Analysis for 10/27/08 - October 27th, 2008

Chesapeake Energy CHK - Support and Resistance Levels


Chesapeake Energy ( CHK ) has been trending along with its 10 day moving average...this is a bullish sign for recovery. I am playing it this way...CHK has support at $17.50...any close below this and I am out of CHK stock....now that it is trending over $20 you could even use that price as a stop....resistance is at $25...when CHK closes over $25 I think you could test the 50 day moving average which is at $35 right now but will come down lower as time passes. Use $20 & $25 as your trading range.