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Bullish Moving Average Cross by Callon Petroleum (CPE)

By James Quinn

Today, shares of Callon Petroleum (NYSE:CPE) have advanced above their 10-day MA of $10.42 on a volume of 1.5 million shares. Swing traders may find an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

In the past 52 weeks, shares of Callon Petroleum have traded between a low of $9.34 and a high of $14.65 and are now at $10.87, which is 16% above that low price. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

SmarTrend recommended that its subscribers protect gains by selling shares of Callon Petroleum on May 24th, 2018 by issuing a Downtrend alert when the shares were trading at $12.74. Since that call, shares of Callon Petroleum have fallen 19.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses callon petroleum

Ticker(s): CPE