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

By Amy Schwartz

Callon Petroleum (NYSE:CPE) crossed under its 10-day moving average of $11.74 on a volume of 366K 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.

Over the past year, Callon Petroleum has traded in a range of $4.21 to $12.56 and is now at $11.56, 175% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 4.2% while the 200-day MA has risen 0.9%.

SmarTrend recommended that subscribers consider buying shares of Callon Petroleum on January 28th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $6.42. Since that recommendation, shares of Callon Petroleum have risen 84.6%. 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