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Callon Petroleum Crosses Below its 10-day MA (CPE)

By Nick Russo

Today, shares of Callon Petroleum (NYSE:CPE) have crossed bearishly below their 10-day moving average of $12.41 on a volume of 805K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Callon Petroleum share prices have been bracketed by a low of $9.34 and a high of $18.53 and are now at $12.12, 30% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 4.2%.

SmarTrend recommended that subscribers consider buying shares of Callon Petroleum on March 5th, 2018 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $11.65. Since that recommendation, shares of Callon Petroleum have risen 7.9%. We continue to monitor CPE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses callon petroleum

Ticker(s): CPE