JebusLives

$CPG Short Opportunity?

TSX:CPG   CRESCENT POINT ENERGY CORP
This is a mid-cap Canadian energy producer, it's local and I follow them.

The way that RSI has formed a rising wedge makes me think there's a bearish reversal inbound for the stock.
You can see how CPG behaved on the last two pullbacks, and sentiment has taken a much bigger hit this time.
Sentiment tells me this will test the 200D EMA soon, and the RSI tells me this is ready to breakdown.

I think it's time to shop some BTO puts on this stock.

(This chart on the TSX, also on NYSE)
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