This could pop to 40 at end of day or could drop to 32.50. Big banks are heavily invested in CPE.
Longs should have their sights on a minimum of between 60 to 85. CPE took an excessive hit from shorts during 2019 due to the poor timing of the CRZO merger during the China trade wars. COVID kept the slaughter alive but the chickens are coming home to roost now.
100 to 150 is a definite possibility for 2021. Biden is also a Hawk and overseas conflicts are a strong statistical probability.