Will Petrofac turn, or will it continue to rise to 560p?

• Shares +20% from Feb lows, recovering after a fall.
• Now trading 451p (at the time of writing).
• Will the positive momentum continue towards 560p?
• Shares -19.7% from 2019 highs; +19.8% from 2019 lows; -5.4% year-to-date.
• 28 Feb: Oil services company swung to net profit in 2018.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Petrofac – An Example

Let’s say the trend appeals to you, you think it’s likely to continue. 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 560p (+24.1%). Your profit would be £2410, 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 falls 5% and hits your stop-loss. Your loss would be £500.

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