$CRC CALIFORNIA RESOURCES CORP LACKS ENERGY.

California resources are a oil and gas exploration company which reports earnings on the 2nd may. Expectation are are very low as can be seen from the recent price action.With the sudden drop in oil last week the price fell out from a ascending channel which is a significant sell signal. Options traders on the other hand seem more optimistic with a trading range from $24 to $35 with quite high volume. Seems to risky to enter any long position under current conditions and chart indicators.