Quality Natural Gas Producer Sets up Bull Flag with Recent Call Buys
Expand Energy (EXE) shares are forming a bull flag after hitting 52 week highs last month near 110 and now having retested its rising 55 day MA successfully at key support of the 100 round number. EXE is a top-quality natural gas name that has continued to see bullish flows on any dip and Monday saw late buyers of 2500 March $105 calls at $3.10. Last month also saw 4000 June $120/$140 call spreads bought and still holding in OI. A breakout above 105 likely points to a target up at 117.50 and then 130 a larger Fibonacci extension on the weekly.