Kentucky Smoke Belch now in the rearview mirrorTechnically, the stock looks a bit weak after decent momentum since early January. I'd guess that a combination of factors is contributing to the sell-off:
- As another poster indicated, traders have made their money and are exiting their positions.
- Shorters are trying to bring it down.
- Powell movement in May (higher interest rates bad for Utilities).
- Standard Fibonacci retracement after a run.
My guess is that it settles on its trendline, but not before dropping below $11.
How does the run get extended?
- Stellar earnings beat (possible but is it likely?).
- Asset sale that is not ruinous to the company.
- Banskota seeks other opportunities.