Will Petrofac turn, or will it continue to rise towards 562p?

• Breakout above key 443p level; Now trading 451p (at time of writing).
• Could they recover to prior highs of 558p?
• Shares -19.8% from 2019 highs; +19.7% from 2019 lows; -5.5% year-to-date
• 28 Feb: Petrofac swings back to profit in 2018
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Petrofac – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue towards 558p. You decide to buy exposure to £10,000 worth of Petrofac using a CFD, at the current price of 451p. To do this, you need £2,000.

Let’s assume the Petrofac trend continues to highs of 558p (+23.7%). Your profit would be £2370, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Petrofac breaks lower, falling 5% and it hits your stop-loss. Your loss would be £500.

This is provided for information purposes only. It should not be taken as a recommendation.