Engineering and construction firm Foster Wheeler, a long-time dead money laggard since the 2008 crash, was up over 7.5% Tuesday evening on this report of buyout interest.
Several weeks ago, we looked at the weekly chart inverse head and shoulders bottom, which had confirmed with a measured move target up to around $39.
Even with the move higher Tuesday evening on the news, there is still much more room to run for Foster Wheeler.
________________________________________________________
Yup, there was unusual option activity on the jan and feb calls last friday.
Back to life!