We recently saw CHK jump out of a consolidation/base and move higher on good turnover. This chart has the makings of higher prices on the near-term horizon. I particularly like the technicals here: The setup is strong, and there is a bull re-test at hand for the momentum indicators. This presents a low-risk entry point.
Bob,
At what point do fundamentals trump technicals? To wit, the recent move up (with volume) that your chart alludes to was a result of a rumor that CHK may be a takeover target at $40 per share. The retracement could be a function of the rumor petering out. If so, the breakout would actually be a Bear trap, no?