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Shares of Callon Petroleum Fall Below Previous 52-Week Low

By Shiri Gupta

Callon Petroleum (NYSE:CPE) traded today at a new 52-week low of $5.07. So far today approximately 3.6 million shares have been exchanged, as compared to an average 30-day volume of 9.6 million shares.

Callon Petroleum Company is an independent energy company. The Company focused on the acquisition, development, exploration, and operation of oil and gas properties. Callon Petroleum serves customers in the United States.

Callon Petroleum share prices have moved between a 52-week high of $13.09 and the current low of $5.07 and are currently at $5.07 per share. The 200-day and 50-day moving averages have moved 1.19% lower and 1.64% lower over the past week, respectively.

Potential upside of 233.2% exists for Callon Petroleum, based on a current level of $5.07 and analysts' average consensus price target of $16.89. Callon Petroleum shares should first meet resistance at the 50-day moving average (MA) of $6.71 and find additional resistance at the 200-day MA of $8.11.

SmarTrend recommended that its subscribers protect gains by selling shares of Callon Petroleum on May 23rd, 2019 by issuing a Downtrend alert when the shares were trading at $7.11. Since that call, shares of Callon Petroleum have fallen 26.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows callon petroleum

Ticker(s): CPE