Chesapeake Energy (CHK) has recently broken out of its sideways trend as investors revisit the beaten down stock. Chesapeake rose to $22.80 in today’s trading session on higher than average volume. 13.5M shares exchanged hands versus the 10M average. Chesapeake is one of the dominant natural gas producers in the United States, though the company does produce some oil as well. Despite the price of natural gas inching downward to $3.80, oil moved up nicely past the $81 mark.
The stock is currently trading above its 50-day moving average but below its 200 day moving average. The Markets Are Open has kept Chesapeake at a Hold rating.
The full report can be read here.
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