5 Energy Stocks Near 52-Week Low To Buy Right Away
Zacks Investment Research | Jun 28, 2017 09:50PM ET
“It is one of the great paradoxes of the stock market that what seems too high usually goes higher and what seems too low usually goes lower” – American entrepreneur and stockbroker William J. O'Neil.
In the investment world, chasing the fad will only make lose out on opportunities to make profit. The crowd simply follows the market trend with the belief that if a stock moves up, it will continue to trend higher. The same theory is applied on stocks in the bearish territory.
Meanwhile, a smart investor will opt for value investing which states that the ideal time to buy a stock is when everybody is selling. If an investment instrument is found to have strong fundamentals but the market hasn’t got a whiff of it, it would be judicious to buy the stock when most are dumping it. In other words, value investors will buy and wait for the crowd to catch up.
The same goes for the energy sector as crude prices have touched rock bottom on oversupply concerns. Investors willing to make money from the sector amid the oil turmoil should identify stocks selling near or at their 52-week low mark.
Oil Enters Bearish Territory
Crude is trading below the $45-a-barrel mark on global oversupply worries. On Jun 20, West Texas Intermediate (WTI) crude touched the lowest level since last September. This has questioned the effectiveness of OPEC’s compliance with its landmark production cut deal.
As per the weekly rig count report issued by oilfield services player Baker Hughes Incorporated (NYSE:BHI), there has been Original post
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