Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James, Would it be a good idea to sell WHC and NHC now to take profits, and then buy them back later when their prices fall back? Is MM expecting some sort of windfall tax to be introduced at the budget update in October which may cause energy stocks to dip in the short term? Thank you for taking time to answer my question. Jacky
Hi Jacky,
MM believes that NHC and WHC will trade higher over the next 12-months and although a pullback for both does feel overdue we are waiting for such a move to buy back into the space as opposed to advocating selling i.e. the bullish uptrend remains very strong.
In terms of the budget we’re not really expecting any “windfall tax” that would weigh on energy stocks short-term, however a resolution to the Ukraine war would have such an impact and that does feel like its slowly approaching – fingers crossed.
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