Chesapeake Energy Corporation Falls 42% In 4 Months
Gareth Soloway | Oct 14, 2014 01:31AM ET
Chesapeake Energy Corporation (NYSE:CHK) has fallen into major support on the daily chart. This stock gives new meaning to the word bloodbath as it has fallen from a high of $31.50 on June 24th, 2014 to a low today of $18.23. That is a whopping 42% drop in four months. This chart is oversold and into a key level of support at $18.25. A potential bounce could yield 20% upside. If it continues to fall, the next support would be $16.40. Odds are high for a bounce. The key is a bounce on oil which is oversold as well.
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