Utility Benefitting from AI Datacenter Demand Forms High Tight Bull Flag
Public Enterprise Group (PEG) shares of the utility name benefitting from AI data center demand are forming a strongly coiled high tight bull flag the past 6 weeks just under the 75 level and is nearing a bullish MACD cross as prices start to show signs of breaking out to highs. Some of its more volatile peers CEG, VST are showing similar patterns and PEG still has size September $75 calls holding in open interest from buyers of over 6000x in early March that have more than doubled since and still holding. A close above 74 likely can target a move to 77 as the next level.