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6 Stocks to Sell in June

Long-term bull market intact, but these stocks don’t have a bright future

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Stock to Sell #3 – Chesapeake Energy Corp. (CHK)

Chesapeake Energy Corp. (NYSE:CHK) is the second-largest producer of natural gas and the most active driller of new wells in the United States. Thus, it has been seriously impacted by lower natural gas prices.

A big quarterly earnings miss resulted in a revision of annual estimates to 76 cents from $1.79 in 2012, and $2.82 versus $3.52 in 2013.

The stock has been falling in a well-defined bear channel since August. Then, in early May, it fell through the bottom of the bear channel, rallied back through the bottom of the channel, and appears ready to head lower again. Sell CHK on this recent rally.

CHK Chart
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Article printed from InvestorPlace Media,

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