A range trading opportunity for you?

Will Hunting break support, or will it rise again back to 844p?

• The Hunting range has developed over the last 3 months
• Bounced off 731p zone 5 times. Now trading 770p (at time of writing)
• Will the pattern repeat itself, testing previous 844p highs?
• Shares -20.1% from 2018 highs; +34.3% from 2018 lows; +27.2% year-to-date
• Oil companies benefiting from oil prices at multi-year highs
• 30 Aug: UBS says Hunting first half results tops hopes, earnings upgrades likely
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading Hunting  – An Example

Let’s say you like the range, you think it’s heading back towards 844p again. You decide to buy exposure to £10,000 worth of Hunting using a CFD, at the current price of 770p. To do this, you need £2,000.

Let’s assume Hunting recovers back to 844p (+9.6%). Your profit would be £960, 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. Hunting falls 3% and hits your stop-loss. Your loss would be £300.

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