Get started
OneTrueSloth

Callon Petroleum at the bottom of downsloping channel

Long
OneTrueSloth Updated   
NYSE:CPE   None
Trend Analysis Chart Patterns
3
0
trendanalysis chartpattern
Callon Petroleum is at the bottom of a downsloping channel (or descending broadening wedge), presenting a low-risk, high-reward opportunity.
Comment:
The price appears to be hovering around 4.10, possibly backtesting the channel, which could indicate a breakout to the downside. NO LONGER RECOMMENDED.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.