Will Tullow Oil turn, or will it continue to rise to Oct highs around 273p?

• Shares +21.8% since late January.
• 13 Feb: Strong FY results, oil company swung to profit and reinstated a dividend.
• Now trading 228p (at the time of writing).
• Will the positive momentum continue towards 273p?
• Shares trading at 2019 highs; +32.7% from 2019 lows; +27.5% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Tullow Oil – 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 Tullow Oil using a CFD, at the current price of 228p. To do this, you need £2,000.

Let’s assume the Tullow Oil trend continues to Oct highs around 273p (+19.7%). Your profit would be £1970, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 8% from the current price. Tullow Oil falls 8% and hits your stop-loss. Your loss would be £800.

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