Chesapeake Energy Corporation Stock Forecast
Chesapeake Energy Corporation stock upgraded to Strong Buy Candidate.
(Updated on Mar 27, 2024)
The Chesapeake Energy Corporation stock price gained 2.33% on the last trading day (Wednesday, 27th Mar 2024), rising from $85.73 to $87.73. During the last trading day the stock fluctuated 3.09% from a day low at $85.23 to a day high of $87.86. The price has risen in 7 of the last 10 days and is up by 3.26% over the past 2 weeks. Volume fell on the last day by -76 thousand shares and in total, 2 million shares were bought and sold for approximately $142.03 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.92% during the next 3 months and, with a 90% probability hold a price between $90.73 and $101.81 at the end of this 3-month period.
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CHK Signals & Forecast
The Chesapeake Energy Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $86.24 and $82.08. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, February 05, 2024, and so far it has risen 16.43%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
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.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $2.63 (3.09%) between high and low. For the last week, the stock has had daily average volatility of 1.63%.
Our recommended stop-loss: $85.13 (-2.96%) (This stock has low daily movements and this gives low risk. The RSI14 is 77 and this increases the risk substantially. There is a buy signal from a pivot bottom found 36 days ago.)
Trading Expectations (CHK) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Chesapeake Energy Corporation to open at $86.94, and during the day (based on 14 day Average True Range), to move between $86.01 and $89.45, which gives a possible trading interval of +/-$1.72 (+/-1.96%) up or down from last closing price. If Chesapeake Energy Corporation takes out the full calculated possible swing range there will be an estimated 3.91% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $83.85, some $3.88 (4.42%) from the current price of $87.73, our system finds the risk reward attractive.
Is Chesapeake Energy Corporation stock A Buy?
Chesapeake Energy Corporation holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months. We have upgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Strong Buy candidate.
Current score: 6.211 Strong Buy Candidate Upgraded
Predicted Opening Price for Chesapeake Energy Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$86.94 ( 0.90%) | $87.73 |
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 | 89.57 | 2.10 % | |
R2 | 88.57 | 0.95 % | ||
R1 | 87.94 | 0.245 % | ||
Current price: | 87.73 | |||
Support | S1 | 85.94 | -2.05 % | |
S2 | 85.31 | -2.75 % | ||
S3 | 84.31 | -3.90 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 87.73 | |||
Support | S1 | 83.85 | -4.42% | |
S2 | 83.47 | -4.86% | ||
S3 | 79.62 | -9.24% |
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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