Energy stocks have been experiencing a decline due to falling crude oil prices and concerns about the global economy this year. These factors have been dampening investor confidence.
Amidst the volatilities in the energy market, I think momentum is not on the rise for prominent oil company Exxon Mobil Corporation (XOM), as it is currently trading below its 50-day and 200-day moving averages. So, the stock might be best kept on hold for now.
