Berry Petroleum Company (BRY), another of the oil stocks, has been on an uptrend since what appears to be a "hammer" formation on 1/23/08 (although some would argue that the "hammer" as early as 8/16/07 was the start of the bullish move).
The stock has been trending up since January in a very tight channel which is a good sign for the stock. 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 AND has recently crossed into positive territory placing BRY among the healthy stocks in the market (and possibly a future leader), even though the price is only in the high 50's and not in the hundreds such as other monsters in the group.
Technically, although the stock broke above the channel formation on 6/23/08 (which means that it is oversold and is a sell signal), it doesn't have that far down to correct before the stock is back in great shape. Currently, the 50-day moving average is at $54.41, which means that if the stock pulls back to this area and bases, a breakout from this area on high volume would be a very good thing for the stock.