California Resources Corp

CRC remains in a sustained Stage 4 decline beneath falling EMAs and continues to form lower highs and lower lows. The medium-term bias is bearish with no mean-reversion eligibility, so bullish entries are disallowed. We will trim into rallies at the confluence of the declining 9 and 21 EMA zone, awaiting clear rejection and confirmation of resistance.

• ↑Q1 adjusted EBITDA $304M and FCF $116M; FY FCF >$800M guidance
• ↑Net production 154k BOE/d (81% oil); 1% gross growth forecast for 2026
• ↓Negative profitability and growth factors signal operational inefficiencies