Seeking Alpha

PinTrader's  Instablog

PinTrader
Send Message
I am a believer of using just what is necessary to achieve my trading and investing goals. That's why I don't subscribe to the idea that only fundamental analysis works and nothing else. I believe in harnessing good fundamental analysis with good technical analysis for entry points and give... More
My company:
Pinbar Trading
My blog:
Pinbar Trading
  • Chesapeake Energy On A Breather 0 comments
    Aug 19, 2013 5:13 AM | about stocks: CHK

    I read a very good article from Joseph Delaney about Chesapeake Energy (NYSE:CHK). Sometimes I really wonder how one could do such detailed financial/fundamental analysis on a company. I couldn't. But I really want to say "kudos" to great contributions, and a great site (NYSE:SA).

    Although I don't have much to offer in terms on analyzing fundamentals, but I still can contribute a little on the technicals. I believe in harnessing the results of financial/fundamental analysis to complement technical analysis to give me a better edge, in terms of entry and exit points.

    As you can see from the weekly chart, CHK has reached a potential resistance area after the week it reported good results (which has also broken the 200EMA). CHK has been stalling around the 25.2 region for 2 weeks. This area was once a major reversal point back in March 2013 and another minor one in June 2010. In my opinion, potential investors who hasn't yet vested might want to look at re-entry around the range 22.7-23.9 for slightly better risk and reward, instead of chasing on the high.

    (click to enlarge)Chesapeak Energy 1W chart

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Themes: gas, oil, drills Stocks: CHK
Back To PinTrader's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers
Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.