Oil and gas explorer KAR has fallen -4.57% so far this year although this shouldn’t be totally unexpected after the stock’s huge rally post-Covid. Our “best guess” is KAR will experience a few months of consolidation around the $2 area.
- After strong gains by the Energy Sector at this stage we would rather hold stocks with steady yield if/when a period of consolidation, or worse, unfolds.
MM is neutral to bearish KAR
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