Chesapeake Energy (NYSE:CHK) Long Term Upward Trend

Chesapeake Energy (NYSE:CHK) Long Term Upward Trend

Chesapeake Energy (NYSE:CHK) Long Term Upward Trend

Overall, the bias in prices is: Upwards.

Short term: Prices are moving.

Intermediate term: Prices are trending.

Note: this chart shows extraordinary price action to the upside.

By the way, prices are vulnerable to a correction towards 5.66.

The projected upper bound is: 8.45.

The projected lower bound is: 6.92.

The projected closing price is: 7.68.

Chesapeake Energy

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 7 white candles and 3 black candles for a net of 4 white candles. During the past 50 bars, there have been 26 white candles and 24 black candles for a net of 2 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 89.9471. This is an overbought reading. However, a signal is not generated until the Oscillator crosses below 80 The last signal was a sell 11 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 74.88. This is where it usually tops. The RSI usually forms tops and bottoms before the underlying security. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 93 period(s) ago.

Commodity Channel Index (CCI)

The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 203.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a sell 10 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 3 period(s) ago.

Rex Takasugi – TD Profile

CHESAPEAKE ENER closed down -0.120 at 7.620. Volume was 61% above average (neutral) and Bollinger Bands were 28% wider than normal.

Open High Low Close Volume___
7.680 7.790 7.430 7.620 10,863,434

Technical Outlook
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish

Moving Averages: 10-period 50-period 200-period
Close: 6.75 5.41 4.53
Volatility: 82 88 147
Volume: 7,611,839 7,068,964 6,465,488

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary
CHESAPEAKE ENER is currently 68.1% above its 200-period moving average and is in an upward trend. Volatility is Our volume indicators reflect moderate flows of volume into CHK.N (mildly bullish). Our trend forecasting oscillators are currently bullish on CHK.N and have had this outlook for the last 35 periods. Our momentum oscillator is currently indicating that CHK.N is currently in an overbought condition.

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