Chesapeake Energy Corporation Stock Forecast
Chesapeake Energy Corporation stock downgraded from Strong Buy Candidate to Hold/Accumulate after Thursday trading session.
(Updated on Mar 28, 2024)
The Chesapeake Energy Corporation stock price gained 1.25% on the last trading day (Thursday, 28th Mar 2024), rising from $87.73 to $88.83. During the last trading day the stock fluctuated 1.53% from a day low at $87.78 to a day high of $89.12. The price has risen in 8 of the last 10 days and is up by 5.25% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 344 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $174.34 million.
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 12.62% during the next 3 months and, with a 90% probability hold a price between $91.87 and $103.18 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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 $86.83 and $82.45. 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 17.89%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Chesapeake Energy Corporation stock
On the downside, the stock finds support just below today's level from accumulated volume at $83.85 and $83.47. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Chesapeake Energy Corporation finds support just below today's level at $83.85. If this is broken, then the next support from accumulated volume will be at $83.47 and $79.62.
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 $1.34 (1.53%) between high and low. For the last week, the stock has had daily average volatility of 1.75%.
Our recommended stop-loss: $85.79 (-3.42%) (This stock has low daily movements and this gives low risk. The RSI14 is 79 and this increases the risk substantially. There is a buy signal from a pivot bottom found 37 days ago.)
Trading Expectations (CHK) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Chesapeake Energy Corporation to open at $88.58, and during the day (based on 14 day Average True Range), to move between $87.13 and $90.53, which gives a possible trading interval of +/-$1.70 (+/-1.91%) up or down from last closing price. If Chesapeake Energy Corporation takes out the full calculated possible swing range there will be an estimated 3.82% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $83.85, some $4.98 (5.61%) from the current price of $88.83, our system finds the risk reward attractive.
Is Chesapeake Energy Corporation stock A Buy?
Chesapeake Energy Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Hold/Accumulate candidate.
Current score: 0.000 Hold/Accumulate Downgraded
Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.
Predicted Opening Price for Chesapeake Energy Corporation of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$88.58 ( 0.285%) | $88.83 |
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 | 89.92 | 1.22 % | |
R2 | 89.40 | 0.647 % | ||
R1 | 89.09 | 0.291 % | ||
Current price: | 88.83 | |||
Support | S1 | 88.06 | -0.86 % | |
S2 | 87.75 | -1.22 % | ||
S3 | 87.24 | -1.79 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 88.83 | |||
Support | S1 | 83.85 | -5.61% | |
S2 | 83.47 | -6.03% | ||
S3 | 79.62 | -10.37% |
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
Click here for our free guide on how to buy Chesapeake Energy Corporation Stock.