Bill Barrett Corporation (NYSE: BBG)

Bill Barrett Corporation, an independent energy company, acquires, explores for, and develops oil and natural gas resources in the United States. It primarily holds interests in the Denver-Julesburg basin, the Uinta oil program in the Uinta Basin, and the Gibson Gulch area in the Piceance basin in the Rocky Mountain region of the United States. The company was founded in 2002 and is headquartered in Denver, Colorado.
Take a look at the 1-year chart of Barrett (NYSE: BBG) with the added notations:

Like most energy related stocks, BBG fell on hard times during the summer and fall. Even recently the stock tested its 52-week low. However, yesterday BBG actually broke back above the prior level of support at $8 (green). That break should mean higher prices for the stock in the short-term, at minimum.

The Tale of the Tape: BBG had a key level of support at $8 that it has now broke back above. A trader could enter a long position at $8 with a stop placed under the level. If the stock were to break below $8 a short position could be entered instead.
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