Investing in Chesapeake Energy Corp. (CHK) Is Getting More Attractive

Mizuho upgraded its Chesapeake Energy Corp. [CHK] rating to a Buy from a a Neutral in a research note published on , January 12, 2024; the price target was increased to $104 from $96.

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Price Performance Review of CHK

On Tuesday, Chesapeake Energy Corp. [NASDAQ:CHK] saw its stock jump 2.12% to $79.12. Over the last five days, the stock has gained 5.65%. Chesapeake Energy Corp. shares have risen nearly 2.83% since the year began. Nevertheless, the stocks have fallen -8.20% over the past one year. While a 52-week high of $91.00 was reached on 01/12/24, a 52-week low of $69.13 was recorded on 01/23/24. SMA at 50 days reached $77.90, while 200 days put it at $82.00. A total of 1.98 million shares were traded, compared to the trading of 0.19 million shares in the previous session.

Levels Of Support And Resistance For CHK Stock

The 24-hour chart illustrates a support level at 77.53, which if violated will result in even more drops to 75.94. On the upside, there is a resistance level at 79.96. A further resistance level may holdings at 80.80. The Relative Strength Index (RSI) on the 14-day chart is 55.32, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.49, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 43.99%. Stochastics %K at 43.73% indicates the stock is a holding.

How much short interest is there in Chesapeake Energy Corp.?

A steep rise in short interest was recorded in Chesapeake Energy Corp. stocks on Jan 11, 2024, dropping by -1.03 million shares to a total of 11.89 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2023 was 12.92 million shares. There was a decline of -8.66%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 9.10% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.54.

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