John_morales1
Panjang

CHK in a revival pattern, possible breakout imminent

NYSE:CHK   CHESAPEAKE ENERGY CORP
CHK             had been trading above and under the 13EMA and recently (in the past 7 trading days) it has begun to ride the 13EMA upward. The stock has retested the 13EMA around 4 times and it has held up as support. Nothing out of the ordinary volume wise but I expect there to be an increase in buyers soon. Moreover, the stock has exhibited constant lower highs, but I believe that CHK             is on an uptrend and we might see a breakout in the next week. In addition, CHK             has retested the 13EMA today (12/2/.17) and it has held up. Also, if the stock closes above the open then this further supports my hypothesis that the stock is rising. I am a new trader and looking to learn more, so any constructive criticism is welcomed!
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