The company was founded in 2002 and is headquartered in Denver, Colorado. To review Barrett’s stock, please take a look at the 1-year chart of BBG (Bill Barrett Corporation) below with my added notations:
A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern. BBG’s rectangle pattern had formed a $24 resistance (red) and a $20 support (blue). Now that the stock has broken its rectangle resistance higher prices should follow. * One caveat: Traders would have liked to have seen an increase in volume on the break above $24. Volume would add validity, but that doesn't mean the stock isn't still going higher.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!