6 Oversold Stocks Ready to Bounce Higher
Bill Barrett Corp. (BBG), headquartered in Denver, explores for and develops oil and natural gas in the Rocky Mountain region of the U.S. Bill Barrett Corp. trades an average of 1.9 million shares per day with a marketcap of $830 million.
BBG has a very large short interest of 14.2%. This is more than enough to squeeze the shorts if the price begins to move higher.The average analyst target price for BBG is $34.20, and major resistance doesn't appear before $25. I am interested in the July $15 strike put options for 25 cents or more if they can be sold this week. My profit target is 20 cents. Option liquidity is not very good so a simple buy of the stock may be advantageous over trading options.
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