Breakout in CHK

This topic has 1 reply, 1 voice, and was last updated 12 years ago by Steven Place.

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April 14, 2014 at 9:37 am #2468

Steven Place
Keymaster

Great looking chart, and we’re seeing some heat in the space. Good news out of GDP and nice relative strength in the sector (see FCG) makes this an attractive long.

The trade I like here is long May 26 calls, with a stop under 25.60. It’s already had a strong run this morning so a scale-in approach can work.

Out before earnings.

April 17, 2014 at 10:27 am #2469

Steven Place
Keymaster

CHK has hit it’s 2nd standard deviation Bollinger Band, and is up 4 days in a row. I’m bailing here on the May 26 calls @2.30 and will look to reenter on a pullback.
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