Watch Chesapeake Energy (NYSE: CHK) for a Breakout 'Buy' Signal

The energy sector has showed great relative strength in recent weeks. While the broader market has been choppy and momentum groups such as social media and biotech have taken a beating, energy stocks have steadily rallied.
This constructive price action led me to take a closer look at a number of energy stocks, one of them being Chesapeake Energy (NYSE: CHK). The natural gas and oil producer looks enticing from a technical standpoint, as it appears to be on the verge of breaking out of a multi-month trading range.
On March 28, the Energy Select Sector SPDR (NYSE: XLE) broke past a multi-month resistance level around $88.50, which may be just the beginning of a multi-month rally.  (more)

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