CHK - energy stocks remain under severe pressure

With US equities ending the day on another particularly weak note, the energy stocks were especially hit. Chesapeake (CHK) settled lower by a significant -5.8% @ $17.86. Next key support is around $12, the low from summer 2012.


CHK, daily

CHK, weekly

Summary

*I remain a fan of CHK (and energy as a whole), but it looks headed for the low teens, not least if the main equity market falls into the sp'1700s before year end.
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The past few weeks have been brutal for CHK, and today's daily close is the lowest level since summer 2013.