Chesapeake Energy Corp.(CHK) is in an uptrend but could lose its momentum

(23-May-2008) (23-May-2008) Chesapeake Energy Corp.(CHK) closed at 52.31, down -1.57 or -2.91 % today. Based on our analysis, Chesapeake Energy Corp.(CHK) is in an uptrend but could lose its momentum.

The closing price of Chesapeake Energy Corp.(CHK) is above its 50 day moving average of 51.43 (Designated by blue line). This indicates that the trend is up. The MACD histogram(Gray bars on the bottom) below the signal line(Dark Red Line) tells us that Chesapeake Energy Corp.(CHK) is losing momentum. Sustained loss of momentum could put the uptrend at risk. The MACD histogram crossed below the signal line on 21-May-2008, about 7 trading days ago.