In an interview Friday with CNBC'sCraig Johnson, senior technical research analyst at Piper Sandler, said the group's charts told a positive story.
However, many money managers tend to disregard the sector because it makes up only about 3% of the entire market for stocks above a $25 million market cap, Johnson said. As the biggest sector gainer year to date, energy looks set to continue its rally, said Danielle Shay, director of options at Simpler Trading., which she said would benefit from the economic reopening. The ETF closed down 2.5% on Friday at $49.39.
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