Stock Price Movement Is Not Random After All
Berry Petroleum Company (BRY) is an energy company engaged in the production, development, acquisition, exploitation and exploration of crude oil and natural gas. The Company has organized its operations into seven asset teams: South Midway-Sunset (S. Midway), North Midway-Sunset, including diatomite (N. Midway), Southern California, including Poso Creek and Placerita (S. Cal), Piceance, Uinta, DJ and E. Texas. On July 15, 2008, the Company acquired a 100% working interest in natural gas producing properties on 4,500 net acres in Limestone and Harrison counties in East Texas.
Even though stock price movement looks random to many newbies, it is not. Most of the time there is always some rationale behind the movement. This rationale also provides excellent trade setups each day in and day out.
Above is the chart of BRY today and how if you observe carefully you can find interesting trends to trade with. The stock moved from $12 to $13 and back to $12, providing trades both on the long side and short side.