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Watch for Callon Petroleum to Potentially Rebound After Falling 3.81% Yesterday

By Nick Russo

Callon Petroleum (NYSE:CPE) traded in a range yesterday that spanned from a low of $3.78 to a high of $4.00. Yesterday, the shares fell 3.8%, which took the trading range below the 3-day low of $3.83 on volume of 5.1 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Callon Petroleum share prices have been bracketed by a low of $3.75 and a high of $12.99 and are now at $3.91, 4% above that low price. Over the last five market days, the 200-day moving average (MA) has gone down 0.6% while the 50-day MA has declined 1.3%.

SmarTrend is tracking the current trend status for Callon Petroleum and will alert subscribers who have CPE in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders callon petroleum

Ticker(s): CPE