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Evergreen Riding On Strength Of Oil Group.(B)(NYSE STOCKS IN THE NEWS)
Byline: Jonah Keri
Evergreen Resources soared out of an 11-week base in mid-April. The stock stalled soon afterward due to choppy market conditions, forging a fairly tight base-on-base pattern. Its latest consolidation has lasted nearly nine weeks, with the stock trading above its 50-day moving average.
The company explores for methane gas in coal-bed deposits in Colorado, Alaska and Canada, then develops the resources it finds. Sales and profit growth have been generally strong in recent quarters. Watch out for their negative trends, though, as sales growth has slowed to 31% from 142% in the last four quarters, profit ...
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