Nat. Gas is getting interesting again. With the recent consolidation in the commodity, the equity names came down. In particular, CHK has entered a level and state of consolidation that caught my eye.
CHK is oversold around support, and even if it breaks down at current levels, fundamentally it is worth over $24/share.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEj7_UTQrAR9kCWk1MwBsjjOc-ZVmS35449AtOsZBT5WWsmCuLvguMGNy6ESypEFrt0i2VkxYHJWmNvl31UucwPk2LxY7yBIhgAdOEx8ijpjUDB9yO5fHF42ufVeCIgq33BV3HXlgO0IZ3Y/s400/sc.png)
Nat. Gas may decline some more, and may continue to bring down the related equities.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiGCukN2oSKPnrCie7GCUqupljq5eCN0NWAwH9vhjQ5DnPOR5EdufJ2gnNGO_9cB9603IRsVWVms3DmhQ8anXcRgMU-RfQDfWmix6HygZB5Ff0WVcPI_kJJdRVl0I9exR6hUqVLuQ33dqE/s400/sc-1.png)
Irrespective however, CHK merits an initial position at this point. And I will probably enter a position in the AM tomorrow.
No comments:
Post a Comment