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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.


 Berry Petroleum Company
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      [edit] References

      1. 1.0 1.1 1.2 BRY, 10K of 2006, Item 1, Page 12
      2. BRY, 10K of 2006, Item 8, Page 73
      3. BRY, 10K of 2006, Item 8, Page 50
      4. 4.0 4.1 CRZO, 10K of 2006, Item 1&2, Page 13
      5. CRZO, 10K of 2006, Item 15, F-26
      6. CRZO, 10K of 2006, Item 1&2, Page 15
      7. CRZO, 10K of 2006, Item 15, F-4
      8. 8.0 8.1 CWEI, 10K for 2006, Item 2, Page 22
      9. CWEI, 10K for 2006, Item 2, Page 19
      10. CWEI, 10K for 2006, Item 2, Page 22
      11. CWEI, 10K for 2006, Item 6, Page 25
      12. 12.0 12.1 SGY, 2006 10-K, Item 7, Page 26
      13. SGY, 2006 10-K, Item 2, Page 14
      14. SGY, 2006 10-K, item 2, page 16
      15. SGY, 2006 10-K, Item 6, Page 22
      16. 16.0 16.1 SFY, 2006 10-K, item 2 page 17
      17. 17.0 17.1 SFY, 2006 10-K, Item 6, Page 31
      18. SFY, 2006 10-K, Item 2, Page 14
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