TheStreet.com  Aug 14  Comment 
NEW YORK (TheStreet) -- Shares of Callon Petroleum   are gaining 0.71% to $8.52 in afternoon trading on Friday after KeyBanc Capital Markets initiated coverage with an "overweight" rating and a price target of $11. Callon Petroleum,...
Telecom Ramblings  Jul 31  Comment 
This Industry Viewpoint was authored by Dr. Yuri Gittik, RAD If service providers hope to meet the challenges of automated, speedy, and profitable service delivery, they need networks that are agile, efficient, and well orchestrated....
Insurance Journal  Jul 24  Comment 
Christopher Emery, 33, of Downey, Calif. formerly a licensed insurance broker doing business as CPE Insurance Services, has plead guilty to seven felony counts of grand theft for stealing insurance premiums. Emery collected premium payments from...
TheStreet.com  Jun 18  Comment 
NEW YORK (The Deal) -- Excitement rippled through the oil patch last month on the news that Noble Energy was purchasing Rosetta Resources  for $3.9 billion and Diamondback Energy picked up properties in West Texas from privately held...
newratings.com  Jun 16  Comment 
BEIJING (dpa-AFX) - The U.S. Department of State and the U.S. Department of the Treasury announced Monday that the seventh meeting of the U.S.-China Strategic and Economic Dialogue (S&ED) will be held in Washington, D.C., June 23-24. The sixth...
Market Intelligence Center  May 28  Comment 
For a hedged play on Callon Petroleum (CPE), MarketIntelligenceCenter.com’s option-trade picking algorithms recommend the Jan. '16 $7.50 covered call for a net debit in the $6.58 area. That is also the break-even stock price for the covered...


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.


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