For over a week PWE has closed up. In fact, it’s closed up every day for the last seven trading sessions and that made me wonder. When was the last time PWE had such a streak?
I couldn’t find one on my charts!!
Not surprising, as I couldn’t find a time when we enjoyed such high energy prices either! So, with the chart beginning a hyperbolic advance flexing a 10% gain in seven days, I’m beginning to wonder how high we will go until we get a short term consolidation.
On my three month chart, the OBV is off the chart!
Given the climate centering around energy prices obviously the street thinks PWE is undervalued – But short term, how high will it go? I said in an earlier post, I thought the stock could run to the next resistance (around $33.04) before earnings. I know you dividend addicts are going to hold and smile, but I’d like to hear what some of the traders are thinking of doing.
I'm buying as many Sep 35 calls as I can afford. These are the latest and highest strike price calls that are available as per Yahoo finance. I hit the jackpot with the June 30s (3-bagger so far) and hope to do the same with the Sep 35s.