Time in Getting XOM Stock?
There are plenty of stocks that you can get in the stock market. And the good thing is that there are multiple industry players as well as part of the best stock broker. You can get stocks from the tech industry and you also get stocks from the consumer industry as well (we’re talking about food and oil here).
That being said, Exxon Mobil, one of the leading oil companies in the world, is having a tough month. This is due to the increase in oil prices. At the time of writing, the current price of oil per barrel is $75. This is a rapid increase (about 150% in fact) and because of that, the market price of XOM stocks have become bullish.
For those of you who do not know, a market is said to be bullish if the general optimism of the market is high and the prices, generally, are going up.
Exxon Mobil is still a huge company and it’s not going to go anytime soon. But, is it the best time get some of the company’s stock?
Exxon Mobil Stocks
Even though there is a general increase in the stock prices of Exxon Mobil (XOM), you still have to hold your horses, at least, for the time being. Remember that oil prices are not in the hands of the individual companies, but rather, it is in the jurisdiction of the oil-regulating commissions.
That being said, you could potentially buy some shares, but you have to wait it out if you want to acquire plenty of them.
Remember that the stock market is highly volatile. Share prices for XOM stocks, for now, is at $76, but it could potentially lower down to $72 depending on how the regulatory board decides upon it.
The best thing that you could do is wait at least 2 weeks from now and then acquire the stocks. This is so that it will be after the G20 meeting and any price change after that would be somewhat felt in the long-term.
What You Can Do
In the meantime, it is best that you look at other industries for now and see if you can earn maximum profits in other areas. You just have to keep XOM stocks at the back of your mind for now until the G20 meeting is finished.
That being said, you might also want to refine your stock portfolio. More people are looking into getting some blue chips stocks for a rather stable and reliable income.
But, if you’re a day trader, I’ve heard that the tech sector has some nice shares you can trade.
For beginners, it is advisable that you continue to do some minor trades, but make sure that every trade is well thought out so that you will spend less, but earn more.
So in conclusion, do not get XOM stocks for now and wait it out for the next 2 weeks. After the meeting is finished, you can then decide for yourself if you want to acquire some or not.