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Post by huh on Mar 10, 2015 6:48:51 GMT -5
Today's open in the markets is the kind of day I'd expect we might see a short term low in a name like this.
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Post by huh on Mar 10, 2015 7:52:33 GMT -5
Current min. downside target is ~14.05 so long as under 15.07. Hard to play short right here though since it left a gap & backtest above. Today's open in the markets is the kind of day I'd expect we might see a short term low in a name like this. Pre-market low so far is $14.
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Post by huh on Mar 10, 2015 9:35:12 GMT -5
It could even test those 2012 lows again before attempting a bounce. CHK testing those 2012 lows with LOD. This is where I'd start building a position for a bounce play - anything under $14 - hopefully it creates a bottoming pattern under $14 now. 14.05 is the resistance to beat.
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Post by huh on Mar 10, 2015 10:02:05 GMT -5
If CHK were to put in a rounded top today, downside target would be ~13.36. 2012 low was 13.32. >14.05 probably negates that pattern.
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Post by birthmark on Mar 11, 2015 13:36:42 GMT -5
Showing a pulse today... do you trust it Huh? I'm not sold yet.
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Post by huh on Mar 11, 2015 13:40:11 GMT -5
Showing a pulse today... do you trust it Huh? I'm not sold yet. LOL I was just going to post about this. Great minds and all...I trust it unless it tests $15 again without filling today's opening gap. (14.40 is next resistance) If it fills the gap first, we know it's getting bought up...and DDD is getting bought up. Good info to have for when/if the market pulls back some more.
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Post by birthmark on Mar 11, 2015 15:30:25 GMT -5
Lotta volume today...
still below 14.40
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Post by huh on Mar 11, 2015 15:51:50 GMT -5
Anyway...since i have the chart... Current topping pattern suggests CHK will see sub-$6 in the longer term. I'm only looking for a dead cat bounce - a quick, final gasp. If it happens, hopefully it begins from ~13.30's, otherwise I'll likely miss it.
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Post by huh on Mar 12, 2015 11:02:18 GMT -5
So much for relative strength.
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Post by birthmark on Mar 12, 2015 11:25:51 GMT -5
Wow... just wow Talk about the bottom falling out on a stock!!
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Post by huh on Mar 12, 2015 11:30:11 GMT -5
Wow... just wow Talk about the bottom falling out on a stock!! I think the bottom doesn't fall out unless it closes under 13.30's. JMO
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Post by huh on Mar 12, 2015 17:18:39 GMT -5
I won't be playing this one. Would rather play XLE if it holds support since I can at least see potential upside targets. Highly unlikely it holds support though.
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Post by birthmark on Mar 12, 2015 17:20:47 GMT -5
Yes CHK is officially off my list. No thank you.
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Post by huh on Mar 12, 2015 17:24:50 GMT -5
Yes CHK is officially off my list. No thank you. I think it will see 13.30-13.50, perhaps tomorrow. It could get a monster bounce there, that would be expected. But there's like 7+ potential bounce targets...no idea which it would hit. And if it didn't bounce?...oogly. I'm not comfortable enough playing a specific name in the energy space...or the gold miners.
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Post by huh on Mar 13, 2015 7:43:42 GMT -5
Happened to notice lots of activity in pre-market for CHK. More than any other name I'm following. Don't know if that's good or bad.
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Post by huh on Mar 19, 2015 10:17:17 GMT -5
CHK may finally see those 13.30's today.
It could be a good play for an energy bounce ~13.25/13.26 if hit. Would then expect/hope to see a strong bonce from there.
DISCLAIMER: I think CHK will be trading under 6 soon, and perhaps even BK in a year or two. This is only a swing play for a possible dead cat bounce and shouldn't be held without that strong bounce occurring.
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Post by huh on Mar 19, 2015 12:54:01 GMT -5
CHK may finally see those 13.30's today. It could be a good play for an energy bounce ~13.25/13.26 if hit. Would then expect/hope to see a strong bonce from there. DISCLAIMER: I think CHK will be trading under 6 soon, and perhaps even BK in a year or two. This is only a swing play for a possible dead cat bounce and shouldn't be held without that strong bounce occurring. Seeing another downside target for ~13.26. Second one. I think it gets there. No upside target unless it were to bounce.
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Post by huh on Mar 19, 2015 14:27:28 GMT -5
Note...CHK long no good if hits 13.20's near the close, not giving it time to bounce. Would be too risky as an overnight hold.
But if up from here instead, needs >13.55 to go bullish.
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Post by huh on Mar 20, 2015 11:11:30 GMT -5
I almost forgot about this one...it finally hit the 13.30's yesterday as expected.
Maybe it squeezes some from here.
But for me, too risky now since it didn't hit the lower 13.20's target it showed at least twice yesterday. At this rate, it'll be testing critical support about the time the energy sector peaks, and that wouldn't be a good thing at all.
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Post by huh on Mar 23, 2015 19:05:09 GMT -5
I guess 13.30's was all this one needed. Trading ~14.45 in AH's. I don't feel bad about missing this one though. (not yet anyway)
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