Long
CHESAPEAKE ENERGY Analysis and targets, going long
I believe this stock has a lot more upside then downside when factoring risk and reward. Contraction leads to expansion, look at the last 4 days, this looks primed and ready.
Volume precedes price!!!
I have been following this stock for quite some time, every time we saw a volume Increase it was always selling pressure to the downside, price would level out under low buying volume and the next round of selling starts again. This is a downtrend.
My bullish analysis started when I started to see volume spikes on buying volume and the price acted in a positive way:
Volume increased as price increased= bullish buyers are out there at this market price.
Volume decreased as price decreased= sellers are getting tired at this price.
both of these items just started occurring in the last month or so which is why I am long since 0.81 also I just added more today at 0.94
Time Will Tell but I believe the bottom was made.
Volume precedes price!!!
I have been following this stock for quite some time, every time we saw a volume Increase it was always selling pressure to the downside, price would level out under low buying volume and the next round of selling starts again. This is a downtrend.
My bullish analysis started when I started to see volume spikes on buying volume and the price acted in a positive way:
Volume increased as price increased= bullish buyers are out there at this market price.
Volume decreased as price decreased= sellers are getting tired at this price.
both of these items just started occurring in the last month or so which is why I am long since 0.81 also I just added more today at 0.94
Time Will Tell but I believe the bottom was made.
Note
Forgot to mention the TK cross along with the price being above the 21 day EMA which I use on the day and hourly chart when entering positions.Note
got stopped out for a 7.25% loss
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.