Stone Energy's Rally Finds Resistance

Stone Energy Corporation SGY shares are trading higher by $1.00 (12.7 percent) at $7.29 in Friday's session.

It's trading higher for the third day in a row, off the rally in Crude Oil prices, doubling from Tuesday's close ($3.86), when it peaked at $8.17 on Thursday. It should be noted the issue substantially backed off that high as it ended Thursday's session at $6.29.

After a higher open, it marched towards Thursday's high but the rally stalled at $7.98 and reversed course. The ensuing decline took the issue to a new low for the session at $6.75, but has rebounded back into the $7 handle.