QUOTE AND NEWS
Cellular News  Jun 21  Comment 
Benu Networks, a leading provider of innovative virtual network solutions that enable service providers to rapidly create and deliver next generation IP services, today announced the issuance by the United States' Patent...
Forbes  May 26  Comment 
Callon's biggest peers in the Permian Basin have been named as possible suitors, with RSP Permian rumored to have knocked on the company's door at one point.
Cellular News  May 23  Comment 
Billion Electric, the leading ICT solutions provider in Asia Pacific, is to announce the launch of 4G/LTE MiFi router - BiPAC 4300MR, with Home/SOHO 4G/LTE Wireless CPE router series - BiPAC 4400CRL-Q, BiPAC 4400CRVL-Q2, BiPAC...
Cellular News  May 12  Comment 
NEW YORK - Verizon has expanded its Virtual Network Services product offering by adding x86-based whitebox options, leveraging OpenStack, to its universal customer premises equipment (uCPE) portfolio. Verizon's uCPE eliminates the need for...




 
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Callon Petroleum Company (CPE), another of the oil stocks, has been on an uptrend since what appears to be a "hammer" formation on 7/21/03 (as seen on the weekly 5-year chart), but with weakness by waivering above and below the 50-day and 200-day moving averages until September 2007, when it corrected and took off from there.

The stock has been trending up since September '07 in a two-steps-forward, one-step-back fashion, correcting as needed. The institutional investors have also thought this was a good stock, and they have been increasing their holdings (albeit slowly) in the stock. Additionally, the RSI (relative strength index) has been steadily increasing since September, when it crossed into positive territory placing CPE among the healthy stocks in the market (and possibly a future leader), even though the price is only in the mid-20's and not in the hundreds such as other monsters in the group.

Technically, the stock has some work to do before it becomes a sound investment. Currently, the 50-day moving average is at $17.18, which means that the stock would need to at least pull back to that level or base [move sideways] in a tight trading range until the moving average catches up with the stock BEFORE one should even consider investing in this stock.



References

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