$5.00 resistance/unofficial price target on CHK was just hit. Pullback is likely although the stock could punch up through that horizontal resistance + downtrend line any day now, possibly today. I just sold all shares but will keep this one on my radar for another possible long entry.
CHK daily April 12th
Should CHK breakout, any or all of the horizontal lines overhead are likely price targets. CHK is now trading at 5.12 as I type, above both the horizontal resistance & the downtrend line. Just keep in mind that intraday overshoots of resistance when the momentum is very strong as it current is with CHK is not uncommon. Therefore, a solid close above the downtrend line/$5.00 level would greatly increase the odds that this breakout sticks.