3 Penny Stocks For The Oil Rally

Energy industry penny stocks are breaking out and moving higher. And if oil keeps moving higher, like many analysts are predicting, these stocks should continue to rally.

These companies hold a significant part of their assets in oil. So, as the price of oil moves up they become more valuable. This is drawing buyers into the market and they are pushing their stocks higher.

They include W&T Offshore, Inc. WTI, VOC Energy Trust VOC, and VAALCO Energy, Inc. EGY.

See Also: Best Penny Stocks

There was resistance for W&T Offshore at the $4.60 level, but now shares are above it and appear to be breaking out.

Get Started

Start Futures Trading Fast — with a $200 Bonus

Join Plus500 today and get up to $200 to start trading real futures. Practice with free paper trading, then jump into live markets with lightning-fast execution, low commissions, and full regulatory protection.

Get Started

After trading through the resistance at $4.20, VOC is breaking out.

VAALCO Energy hasn’t broken out yet, but it appears to be about to do so. It’s testing resistance at the $3.30 level.