The old follower @Abhimi4u asked me about a favor to make a chart analysis for CHK.
Before I start, often people enter the stock and then try to analyze it be it FOMO or other emotional trading type.
Avoid such trading style - market always moves and hence offers the everyday opportunity especially when we got the millions of stock names
so trade only when you are sure.
Here we go.
First of all, please always check company's fundamentals, I use finviz.com and gurufocus.com for this.
And only then we should use chart analysis.
So this is just my view.
The CHK is in possible long lasting consolidation WXY.
The last leg up could hit the upper side of the white channel.
But I recommend to cover longs if any when the price will reach the former top at the 8.20 for safer play.
The wave Y already broke out the yellow resistance so the odds are in favor of the follow through buying.
Before I start, often people enter the stock and then try to analyze it be it FOMO or other emotional trading type.
Avoid such trading style - market always moves and hence offers the everyday opportunity especially when we got the millions of stock names
so trade only when you are sure.
Here we go.
First of all, please always check company's fundamentals, I use finviz.com and gurufocus.com for this.
And only then we should use chart analysis.
So this is just my view.
The CHK is in possible long lasting consolidation WXY.
The last leg up could hit the upper side of the white channel.
But I recommend to cover longs if any when the price will reach the former top at the 8.20 for safer play.
The wave Y already broke out the yellow resistance so the odds are in favor of the follow through buying.