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One NASDAQ: Listed Oil & Gas Exploration Stock at Resistance Level: Expand Energy Corporation

Nov 12, 2024 | Team Kalkine

Read Time :5 min

One NASDAQ: Listed Oil & Gas Exploration Stock at Resistance Level: Expand Energy Corporation — Image source: shutterstock

EXE

Investment Type

Large-cap

Risk Level

Action

Rec. Price (US$)

Expand Energy Corporation

Company Overview: Expand Energy Corporation, formerly (Chesapeake Energy Corporation) is an independent natural gas producer in the United States. The Company is focused on developing a supply of natural gas, oil and natural gas liquids to expand energy access for all. Its large-scale assets are concentrated across more than 938,000 net acres in the Appalachia and Haynesville basins.

As per our previous US Inflation Report published on ‘CHK’ on 23^rd August 2024, Kalkine provided an ‘Buy’ stance on the stock at USD 72.23 based on “decent fundamentals, upside valuation, technical analysis and associated risks” and the stock price has now moved by ~32.55% since then and attained both resistance 1 and resistance 2.

*Chesapeake Energy Corporation and Southwestern Energy Company have successfully completed their previously announced merger, resulting in the formation of a new entity, Expand Energy Corporation. The combined company, now rebranded as Expand Energy, will begin trading publicly on the NASDAQ under the ticker symbol “EXE” starting October 2, 2024.

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