v2c_cha
Long

CPE possibilty to go up to $3.01

NYSE:CPE   CALLON PETROLEUM CO
Just as NYSE:RIG and NASDAQ:CDEV this one show a similar movement, (very similar), so, if the cup&handle pattern is confirmed we can expect an objective price around $3.00

The ichimoku cloud could be used as support for the movement, but the most important is the stochrsi that shows we're on the bottom of the oscillation movement, so we're waiting to go up, also the MACD (not in this chart) show a weak bearish movement, that could be reversed in the next days. The volume is also going low so eventually this is going to be a good buy opportunity.

The actual price is still above EMA 12 and 26, so we can wait to goes lower to buy more, anyway: this is not an investment advice.

The trend movement is bullish if you see the weekly view, so let's wait to see if I'm wrong or not.
Trade closed: stop reached

Comments

Hey
Baught large shares at 2.1
Any advise?
I can wait to sell higher...
What do you think the target?
My regards
Reply
v2c_cha m1tsalah
@m1tsalah, hi! Well I don't give advices, recommendations or anything related (my charts are only ideas), but in your case, I would wait and follow the oil prices, maybe the price will rise by mid-july or early August, some people think it's wise to not sell until 2021, so, it's up to you, my idea is published with an target price around $3 but is not for sure.
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m1tsalah v2c_cha
@v2c_cha, big massive thank you
Reply
Any updates regarding today's price?
Reply
v2c_cha spinou
@spinou, Stills on the right way, I expect for today and tomorrow a little bit lower price, indicators still on the same way, if the patterns confirms c&h, this is going to take some time to recover, maybe until early august. And there's also something more, when the price goes up, we can expect a golden cross sma50/200 (this could be a really big thing) maybe at the same time (last days of july - first august week). I'm not worried, when I bought this shares I wasn't thinking on a swing trade, I can wait a few more weeks.
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