CHK closes below its opening price unable to hold early session gains

Chesapeake Energy (CHK) Technical Analysis Report for Sep 14, 2018

Highlights

CHK closes below its opening price unable to hold early session gains
CHK closes lower for the 2nd day in a row
CHK falls to lowest close since May 16th
CHK closes within previous day's range after lackluster session
CHK ends the day indecisive

TQ Sentiment

Report Sentiment: 16% Bearish
Technical Forecast:

Overview

Moving lower for the 2nd day in a row, CHK ended the week -0.74% lower at 4.00 after losing $0.01 (-0.25%) today. Today's closing price of 4.00 marks the lowest close since May 16th. Trading $0.05 higher after the open, Chesapeake Energy was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.

Daily chart for CHK

Volatility

Friday's trading range was $0.11 (2.74%), that's below last trading month's daily average range of $0.15. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly above average.

Trend

While still in a long-term uptrend, the short and medium-term trends both turned bearish already.

Order Flow

Buying might accelerate should prices move above the nearby swing high at 4.14 where further buy stops could get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Chesapeake Energy

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Latest Report:

CHK ends the day indecisive

Sep 21, 2018
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