Chef’s Warehouse (CHEF) shares of the small cap specialty food distributor are forming a tightly coiled flag near recent highs and a name that has stayed strong in 2024 after big rally to end last year. CHEF has the top of its monthly value area at 39.35 so a close above that can see a move up to the prior all-time highs of 42.16. Longer term the name is forming a big, inverted H&S bottom on the weekly timeframe. CHEF still has 1000 December $45 calls in open interest from a buyer in early March for $3.00. BMO raised its target to $50 earlier this year and maintains that shares will benefit from further valuation expansion.