Not Pumping
Kelt is close to breaking out hard to the upside! I mark a close with volume over $5.26 as a break out to the upside. MACD crossover today.
I think the read through for the market is that there is no near term cut to cap ex. due to lower then forcasted nat gas prices (Pablo L. referenced this legitmate concern). The reason is because oil as a percentage of production is rising, and the market sees the runway for it improve further over 40% this year. This could be the re rating KELT investors have been waiting for.
Time will tell a big close over $5.26 with volume confirms it in my world, cheers Matthew