Thursday, 28 May 2015

CHK - falling with Nat' gas

Whilst the broader market saw a day of moderate weakness, there were significant declines in most energy stocks, as Oil/Nat' gas prices fell. Chesapeake Energy (CHK) settled -4.7% @ $14.06. Downside to the $12/10 zone looks highly probable this summer.

CHK, daily

CHK, monthly


To be clear.. I am VERY bullish for CHK in the longer term - along with Nat' gas (and even Oil) prices, however, the giant down wave from summer 2014 is seemingly not yet complete.

*I will consider going long a number of energy stocks - inc' CHK, in the late summer/early Autumn.. at which point the market - along with energy prices might have floored.