Chesapeake Energy Corporation Stock Forecast
Evaluation of Chesapeake Energy Corporation stock downgraded after the last trading session.
(Updated on May 01, 2024)
The Chesapeake Energy Corporation stock price fell by -3.56% on the last day (Wednesday, 1st May 2024) from $89.88 to $86.68. During the last trading day the stock fluctuated 4.58% from a day low at $85.97 to a day high of $89.91. The price has risen in 8 of the last 10 days but is still down by -0.54% for this period. Volume has increased on the last day by 2 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 4 million shares were bought and sold for approximately $335.95 million.
Given the current short-term trend, the stock is expected to rise 19.06% during the next 3 months and, with a 90% probability hold a price between $103.20 and $111.26 at the end of this 3-month period.
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CHK Signals & Forecast
There are few to no technical positive signals at the moment. The Chesapeake Energy Corporation stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. On corrections up, there will be some resistance from the lines at $90.32 and $88.02. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -6.76%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Chesapeake Energy Corporation stock
Chesapeake Energy Corporation finds support from accumulated volume at $83.85 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the stock moved $3.94 between high and low, or 4.58%. For the last week the stock has had daily average volatility of 2.78%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CHK) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Chesapeake Energy Corporation to open at $87.52, and during the day (based on 14 day Average True Range), to move between $84.61 and $88.75, which gives a possible trading interval of +/-$2.07 (+/-2.39%) up or down from last closing price. If Chesapeake Energy Corporation takes out the full calculated possible swing range there will be an estimated 4.78% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $87.98 (1.50%) than the support at $83.85 (3.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Chesapeake Energy Corporation stock A Buy?
The Chesapeake Energy Corporation stock holds several negative signals and despite the positive trend, we believe Chesapeake Energy Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -4.463 Sell Candidate Downgraded
Predicted Opening Price for Chesapeake Energy Corporation of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $87.52 ( 0.97%) | $86.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CHK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 91.45 | 5.51 % | |
| R2 | 89.95 | 3.77 % | ||
| R1 | 89.02 | 2.70 % | ||
| Current price: | 86.68 | |||
| Support | S1 | 86.02 | -0.767 % | |
| S2 | 85.09 | -1.84 % | ||
| S3 | 83.58 | -3.57 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 92.96 | 7.25 % | |
| R2 | 89.88 | 3.69 % | ||
| R1 | 87.98 | 1.50 % | ||
| Current price | 86.68 | |||
| Support | S1 | 83.85 | -3.26% | |
| S2 | 83.47 | -3.70% | ||
| S3 | 83.35 | -3.84% |
CHK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 20, 2024 | Mar 06, 2024 | Mar 26, 2024 | $0.580 | 0.677% |
| 2 | Oct 31, 2023 | Nov 15, 2023 | Dec 06, 2023 | $0.575 | 0.778% |
| 3 | Aug 01, 2023 | Aug 16, 2023 | Sep 06, 2023 | $0.575 | 0.650% |
| 4 | May 02, 2023 | May 17, 2023 | Jun 06, 2023 | $1.18 | 1.49% |
| 5 | Feb 21, 2023 | Mar 06, 2023 | Mar 23, 2023 | $1.29 | 1.76% |
FAQ
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