Chesapeake Waking Up Just in Time for the Playoffs

On a day featuring tedious broad market action thus far, Chesapeake Energy is distinguishing itself for the first time in a while. 

The energy plays has natural gas exposure and could easily be responding to the sharp rally in natty today, as a few other natty-related plays are outperforming their energy peers, too. 

On the CHK daily chart, below, now how price held its 50-day moving average (dark blue line) after rallying early last week. As long as bulls keep stepping in at the 50-day, CHK is in play as a turnaround candidate into the spring months (and the NBA playoffs, where the Oklahoma City Thunder will play at least one round of home games in its CHK-named arena).

Of course, seeing natty and crude rally would help the cause. But on a slow day where AMZN TSLA are stealing the spotlight we do not want to overlook the progress in this beaten-down corner of the market. 

More ideas in my usual Midday Video for Members.