Frisco, TX -- (ReleaseWire) -- 06/24/2008 -- TwinTrader.com announces the publication of Breakout for BAS; highlighting public companies on the move and what’s behind the surge.
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“With headquarters in Midland, Texas, Basic Energy Services is an industry leader in the delivery of oilfield services.
“The company provides a wide range of well site services to oil and gas drilling and producing companies, including well servicing, fluid services, completion and remedial services and contract drilling…
“The daily and weekly charts indicate the stock is in the overbought region. Consolidation is expected around the $30-to-$32 range. A stock can remain overbought for a long time. And don’t chase this stock. A recent Goldman Sachs analyst just recommended the industry and is the most recent catalyst for the stock’s push through to a breakout. Even though the company’s PEG is under $1, let the market digest the move....”
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