Consensus amongst energy experts call for a early and much colder winter has energy prices surging to fresh 52-week highs. Bullish price action comes amid mounting concern that inventories won’t be able to meet demand in the northern hemisphere this winter. As a result, futures price for October delivery surged nearly 10% and surpassed $6.00 for the first time in seven years.
Energy prices are higher in Europe, as well, with front-month gas futures surging nearly 12% Tuesday.
Oil & Gas Exploration Stocks
These stocks are from the MarketSmith sector “tab” and ranked by percent gain at the Wednesday close. We’ll add these to our watchlist today, with many of these candidates discussed yesterday during the “Live Broadcast” from 9:15 AM EST to market close. Any dips should be thought of as potential entries, using strategies discussed in the trading room.
Vermillion Energy
Vermillion Energy (VET) also showed up on the MarketSmith “bluedot” scan; this tool uses pattern recognition to find stocks in a base, signaling a potential breakout together with RS line at new 52-week highs. Note the above average volume. Click to enlarge the chart.
- EPS Due Date 11/9/2021
- EPS % Chg (Q/Q) +707%
Vermillion Energy (VET) is printing a cup pattern and may form a handle before continuing higher. We’ll watch for these stocks closely as they might consolidate in the coming days.
Join us today in the trading room for our LIVE broadcast during market hours, as we navigate the current environment. Watch, listen, and trade from 9:20 AM to 4:15 PM Monday through Friday.
Happy Trading,
Vinny
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