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Small Cap Sustainable Energy Play Forms Bull Flag After Recent Catalyst

by | Nov 19, 2024

Calumet Specialty (CLMT) shares of the small cap sustainable energy name are coiling in a tight bull flag after its earnings report recent saw buyers defend a pullback to the 55 day MA support near $19 and now looking poised to breakout above 22 potentially into year end that would target the 25-26 level first. The stock recently saw a large 10/18 buyer of 10,000 June $25/$40 call spreads for $2.80 adding to existing open interest with the Department of Energy $1.44 billion loan approval seen as a game changer for the company into 2025.

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