CHK chart, page-783

CHK DAILY

Currently trading within the rising triangle this is the breakout pattern any trade above this will signal a very very large blue sky style breakout given the size of the opening.
In the blue square is the drawn target for the profit area of value from the wedge and channel in blue also this has not really been met imo but one could argue it has.
Key support is now 3.9c
Tomorrow is a key turning point on a candle basis for the daily trade and bearish movement is confirming 3 black crows pattern with the red candles, or a bullish day will see us close with a 3 line strike but we must close at 5.2c doubt this will be the case.
id expect this to bounce of the 20 day moving average in the center of the Bollinger bands if not test 4c tomorrow to bounce off lower triangle, anything lower ill be dumping this thing to the depths of hell, as that nasty gap would be getting filled.
Rsi signaling either a bounce of the 50% or 20% confirming all the above. Macd looking like a bounce up or sending us to the depths.
All IMO and lets hope management can answer the phone or consider its share holders as the track record for chk is appalling and the new MD is proving to be following the same tune.



1hr chart

Bear target has been met, bounced off the lower Bollinger ready to trigger a reversal or breakout south.
Rsi way over sold so hopefully the 1st option very good re entry point here