Petrofac is due to issue a Q3 Trading update on Tue, 18 Dec

• The chart above shows the price movements last time Petrofac reported (H1 Results, 29 Aug).
• The oil-field services company reported a H1 net loss after a $207m after-tax impairment and won a $600m engineering contract in Algeria.
• The shares opened +5p (+0.8%), traded as high as +17.2 (+2.6%) and went as low as -16.2p (-2.5%).
• The shares closed -8.2p (-1.2%), for a daily trading range of 33.4p or 5.1%.
• Shares -29.5% from 2018 highs, +19.2% from 2018 lows, -8.3% year-to-date.
• Currently trading at 468p (at time of writing).
• Petrofac issues a Trading Update on Tue, 18 Dec. Will we see another big move?
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Petrofac – An Example

Let’s say you think that Petrofac results are likely to be good, and the price is likely to rise. You decide to buy exposure to £10,000 worth of Petrofac using a CFD, at the current price of 468p. To do this, you need £2,000.

For the purpose of this example, let’s assume Petrofac reports strong results and the share price rises by 10%. Your profit would be £1,000, 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 results miss, it 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.