Chesapeake Energy Corporation CHK shares are trading higher by $0.13 at $5.44 in Thursday's session. The catalyst for the modest rally is a Q3 beat of $0.12 along with a slight beat for revenues.
After a higher open, it rallied another nickel to $5.80 before reversing course. That high matched Monday's high and is shy of its October 28 high ($6.06).
The ensuing decline has taken the issue to exactly the top of Wednesday's range ($5.43) and is attempting to mount a rally. If the decline continues, there may be additional support at Wednesday's close of $5.31.
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