Long Position on BCEI @ $48.60 on 5/1/2014 (Momentum)

Bonanza Creek Energy (BCEI) operates as an independent energy company in the United States.

The company is primarily engaged in the acquisition, exploration, development, and production of onshore oil and natural gas assets in the Wattenberg Field in Colorado and the Dorcheat Macedonia Field in Southern Arkansas.

It also owns and operates oil-producing assets in the North Park Basin in Colorado; and the McKamie Patton Field in Southern Arkansas. 

Shares have formed a bullish "cup and handle" ahead of the company's earnings release on May 8th. 

52-Week Trading Range: $33.20 - $57.47

Entry Point: $48.60

Stop Loss: $46.17

Target Price: $53.46

Updates

5/12/2014 9:33:49 AM

BCEI fell below our stop loss. Closed at $42.00

Position closed on 5/12/2014 at price of $42.00 with a -13.58% loss in 11 days.

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