Chesapeake Energy (CHK) had its ratings outlook lowered by Moody's yesterday to Stable from Positive, reflecting "the adverse effect of weak natural gas prices on Chesapeake Energy’s operating cash flows." Chesapeake's capex plans "far exceed its cash flows, necessitating the execution of continued asset sales and capital raising transactions in 2012."
Chesapeake Energy (CHK) resistance level is $23 and support level is $21.
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