As oil continues to soar and approaches $70 a barrel, shares of many stocks in the energy sector have rallied as well. Some appear to be poised to keep moving higher.
These include penny stocks W&T Offshore, Inc. WTI, Ultrapar Participações S.A. UGP, and Vista Oil & Gas, S.A.B. de C.V. VIST.
See Also: 3 Penny Stocks In The Energy Sector Ripe To Play For Inflation
WTI may be breaking the resistance around the $4.50 level. This is where the top was in early March. If it clears this level, the uptrend could resume.
Shares of VIST hit resistance at $3.75 during last June and July, and they're now trading above this important level. There’s a good chance the rally continues.
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