Benzinga  Mar 23  Comment 
Matthews International Corp (NASDAQ: MATW) rose more than 8 percent in Monday's extended trading, changing hands recently at $55.98. But the cemetery products supplier was quiet on the news front. Several smaller oil and gas companies were...
Motley Fool  Mar 23  Comment 
Callon Petroleum Company reached an agreement with a major shareholder today. Here's what you need to know.
OilVoice  Mar 23  Comment 
Callon Petroleum Company NYSE CPE today announced that it has entered into an agreement with Lone Star Value Management LLC pursuant to which Callon has agreed to expand the size of the Companys
Benzinga  Mar 11  Comment 
In a report published Wednesday, Imperial Capital analyst Kim Pacanovsky reiterated an Outperform rating and $9.00 price target on Callon Petroleum Company (NYSE: CPE). In the report, Imperial Capital noted, "We are maintaining our Outperform...
Motley Fool  Mar 10  Comment 
In need of cash, Callon Petroleum Company raised some equity, which sent its stock lower.
TheStreet.com  Mar 10  Comment 
NEW YORK (TheStreet) -- Shares of Callon Petroleum Co. are down by 8.66% to $6.43 on heavy volume in mid-morning trading on Tuesday, as some stocks within the oil and energy sectors drop along with the price of oil. Brent crude is falling by...
Benzinga  Mar 9  Comment 
Callon Petroleum Company (NYSE: CPE) ("Callon" or the "Company") today announced that it has commenced, subject to market and other conditions, an underwritten public offering of 9,000,000 shares of its common stock. The underwriter will...


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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