CHK analyst, Johnson Rice raised its rating to accumulate today. This was the second buy rating recently as Tudor Pickering upgraded Chk to buy on 7/21/16 with an $8 target price. There has been insider buying recently. Chk may show improved earnings due to cost savings. There is a heat wave and perception more electricity with be used. There may be more reasons for rise in sp.
CHK is breaking out of a 10+ week triangle pattern. Price is also breaking above the 200 day moving average, which provides a solid inflection point to deploy risk capital. The confluence of the 200 dma and the breakout's ice line creates good base of support against any potential volatility.
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