Berry Petroleum (BRY) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Here is how Petrobras (PBR) and Berry Petroleum (BRY) have performed compared to their sector so far this year.
Berry Petroleum (BRY) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.