Chesapeake Energy Tests Round-Number Support (CHK)

Late last week, Chesapeake Energy Corp. (NYSE: CHK) was downgraded to "neutral" from "overweight" by analysts at Simmons & Co. From a broader perspective, the negative analyst attention could prove ominous for the commodities concern, considering the security's unimpressive performance on the charts and bullishly biased sentiment backdrop.

Technically speaking, the shares of CHK have surrendered roughly 20% since the start of the year.

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