Long Position on CPE @ $12.60 on 10/17/2018 (Momentum)

Callon Petroleum Company (CPE) is an independent oil and natural gas company. 

The company focuses on the acquisition, development, exploration, and exploitation of unconventional onshore, oil, and natural gas reserves in the Permian Basin in West Texas.

As of December 31, 2017, its estimated net proved reserves totaled 137.0 million barrel of oil equivalent.

Shares of this small independent oil company have formed a bullish "cup and handle" and higher share prices are expected for this stock. The formation is supported by the stock's 200-day moving average. Higher share prices are expected for this stock.

Entry Point: $12.60

Stop Loss: $11.90

Trading Range: $9.75 - $14.65

Target Price: $13.86

Updates

2/25/2019 12:11:40 PM

Closed at $7.15

Position closed on 2/25/2019 at price of $7.15 with a -43.25% loss in 131 days.

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