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.

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