Chesapeake Energy Corporation (NYSE:CHK) Just Flashed an Extremely Rare ‘Hold’ Signal

Chesapeake Energy Corporation (NYSE:CHK) fell by -2.53% in Thursday’s trading session from $3.95 to $3.85. The price has fallen in 7 of the last 10 days and is down by -11.49% over the same course of time. There was a decrease in both volume and price. This is usually interpreted as a good sign as traders widely believe falling stock should see declining volume. Traded activity experienced a fall of -5.08 million shares and in total 26.71 M shares exchanged hands for about $102.82 million.

Inside CHK’s Recent Trend

Chesapeake Energy Corporation (CHK) lies in the middle of a very wide and falling trend in the short term and pointed towards extra losses. Short-term traders are anticipated to see a retreat of -15.10% over the course of a quarter and, with 90% chance the price will be floating in the range of $2.75 and $3.74 in this timeframe.

Chesapeake Energy Corporation Technical Signals

CHK has witnessed its long term and short term MA triggering a sell signal. Upon corrections, the price will meet resistance from the averages between $4.10 and $4.00. A buy signal will be generated if it crosses above any of these levels. Its pivot point high generated sell signal on Wednesday September 27, 2017, which calls for additional declines until the stock forms a new pivot point low, as this could be a buying opportunity. The downbeat movement of both volume and price during the recent session is interpreted as a good sign because traders usually believe falling stock should see declining volume.

Chesapeake Energy Corporation (NYSE:CHK) Support And Resistance Levels

Chesapeake Energy Corporation (CHK) recorded volume accumulation so there will probably be a surplus of buyers at $3.79. In case of gains, the next resistance from accumulated volume will not be far away from today’s level at $4.00, $4.35 and $4.37.

Accumulated volume is going to prevent the price from rising further at $4.00 and this action will lead the price to take a temporary pause or stay muted for a few days.

Chesapeake Energy Corporation (CHK) Risk Assessment

The number of shares changed hands in the stock is good, indicating the interest and low risk associated with it. In the most recent session, the stock price hovered around $0.15 (3.97%) between intraday high and intraday low. Each day in the past 1 week, the average volatility remained at 4.71%.

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