Long Position on SN @ $28.21 on 4/30/2014 (Momentum)

Sanchez Energy Corporation (SN) is an independent exploration and production company.

The company focuses on the acquisition, exploration, and development of unconventional oil and natural gas resources in the onshore U.S. Gulf Coast.

As of March 5, 2014, it had approximately 120,000 net leasehold acres in the oil and condensate, or black oil and volatile oil, windows of the Eagle Ford Shale in South Texas; approximately 40,000 net acres targeting the Tuscaloosa Marine Shale in Mississippi and Louisiana. 

The firm reports its results on May 7th. Ahead of the report, shares are heading higher in an upward trading channel. The 200-day moving average is shown on the chart in green. Higher share prices are expected for this stock.

52-Week Trading Range: $17.25 - $32.96

Entry Point: $28.21

Stop Loss: $26.75

Target Price: $31.05

Updates

5/12/2014 9:34:58 AM

SN closed at $26.85 after it fell below our stop loss.

Position closed on 5/12/2014 at price of $26.85 with a -4.82% loss in 12 days.

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