Will Petrofac turn, or will it continue to rise towards 497p (+9%)?

• Breakout above 450p to trade 455p  (at time of writing).
• The ‘trend is your friend’. Will it continue down towards 497p (+9%)?
• Shares -18.9% from 2019 highs; +21% from 2019 lows; -4.5% year-to-date.
• 25 Jun: Petrofac sees 2019 performance in-line with expectations
• 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 to 497p . You decide to buy exposure to £10,000 worth of Petrofac using a CFD, at the current price 455p (at time of writing). To do this, you need £2,000.

Let’s assume the Petrofac trend continues up towards 497p (+9%). Your profit would be £900, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Petrofac breaks lower, falling 3% and it hits your stop-loss. Your loss would be £300.

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