The following is Chesapeake Energy Corporation (CHK) stock technical analysis for March 30, 2010
Chesapeake Energy Corporation (CHK) Support & Resistance Levels - 3/30/10
Resistance Levels: $23.75, $25
Support Levels: $22.10, $22, $20
Support Levels: $22.10, $22, $20
Chesapeake Energy Corporation (CHK) appears to have made a double bottom on Friday with a reversal on Monday. This reversal was due to an upgrade on Southwestern Energy Co. (SWN) from Goldman Sachs. Natural Gas has been getting crushed lately but this is due to a lull in demand as the heating season ends. I started a long position in Chesapeake Energy on Monday and will add when the stock closes back over each of the three moving averages. If Chesapeake falls below $22 at any time, I will sell half.
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