Bulls are attempting absorb the supply evidence by the higher lows present. The theme remains that demand exceeds supply. Given that prices closed on support I believe a LONG entry is reasonable with a "tight stop" as shorts are buying into resistance. I believe we are seeing strong hands maintain their positions while new entries respect that they are...
As I mentioned in my Natural Gas Forecast, I believe that Natural Gas is ready to move up, so I decided to check out CHK which I believe is in the NG business. It appears that CHK is nearing the bottom of a descending wedge with the potential to break out and form a great H&S reversal pattern. The hourly waves are all in good position and the Day wave is about...
2 already confirm money flow breaches in $gasl in a rising channel
Hello Traders, Similar to my CL1! and USOIL charts I posted yesterday. Chesapeake Energy formed a very similar structure. I would be interested to see how well these 3 charts correlate with one another. The charts I am referring to are found below. Best, Chartistry
I believe that right now that CHK is a great buy. In a long term state of accumulation. Also in accumulation on the daily chart.
Okay, so my long UNG play didn't work out; after I entered the trade, NGAS continued to tank -- horribly, as forecasts for a mild winter came to the forefront and natty gas reserves continued to build to record levels. Ugh. Nevertheless, i still want a natty gas long play. CHK is the most beaten down price-wise of the top ten nat gas producers, so it makes for...
Bounced strongly off the channel support. Up 9% on Friday alone. Might be worth a shot
Short bounce opportunity in oversold oil. Be careful here. I will be buying oversold energy stocks from here to the bottom. Starting first with NRG.
Near term catalyst- Bullish engulfing on 7/7 Bullish MACD crossing Broken distribution trend line RSI breaks out of over-sold conditions. In the intermediate term, CHK still appears to be moving in a range. Based on the upper line, it looks like 14 will be an important area. It it breaks through 14, there is a gap at ~18.50 that may be filled. If it meets...
Scal Play Has already bounced and made a double bottom.. but I see more in it! I would guess that we see some back and forth here for consolidating above the bottom. Probably a play over this week! On a 30 min chart we should see 61.8 at least T.W.U.C @BLawrenceM Follow me on Twitter for intraday updates
Please ignore the elliot wave markings on this chart as it is part of a greater analysis of CHK that I have been working on and is incomplete. I will however be mentioning some of my findings later on in this analysis. The main reason I wanted to throw this chart out while it is incomplete, was to point out a possible trade to the long side here. What seems to...
#CHK daily bullish chyper pattern potential is supported with Weekly chart analysis, where is in 78.6% fib retracement area. I am looking for bullish momentum to ride on it.
$CHK is supported at 26.35 area and potential for bullish chyper with minimum target at 30.45 area. I am expecting bullish candle formation to ride the trend. #CHK
$CHK is supported at 28 - 27.5 area, Bullish swing is likely confirmed and my first target is 30.45 area to build crown top and fill the gap. A worst scenario is moving more deeper to 27-26 area and back to the top 30.45 are.. I don't think it will go deeper any time soon, if it does.. then.. "I KILL U..." (Achmed-JeffDunham)
There were many winning trades looking for rejection or Traps off high volume spike levels. Try marking up your favourite stocks where volume spiked and see how price reacted off those levels. This is just a naked chart with no indicators except for price action and volume. Simplify your charts to improve your skills.