Petrofac are just one of those Companies that have always bounced back no matter what so I can't see why they can't continue to do so.
Really? When this thread started in February 2019 the share price talked about was 489p. The last price mentioned in this thread is393p. Now, I dont follow this share, but that sounds like pretty poor performance to me. Why should the price bounce back? The price is what it is because that is Mr Market's valuation of the share. I get the feeling that this is exactly the type of share that is the reason that 70% of retail traders lose money.
If you've not been following the share you can hardly expect to understand Stan's comment, but it's quite correct.
The share price of 489 was a snapshot from a day in which the price fell from 559 to 395 because of further SFO revelations. However, I've come to see the SFO as a great ally, as every time they pop their head over the parapet the share price drops, providing another buying opportunity. And when they go back under their stone the SP gradually rises again. In fact, I can't help wondering whether someone at the SFO holds shares in PFC ...
Have a look at the recent history of the share price, and you can see the amazing trading opportunities the volatility has presented:
03.03.17 - 938
09.06.17 - 354
04.08.17 - 483
01.09.17 - 403
19.01.18 - 548
09.02.18 - 408
11.05.18 - 651
14.12.18 - 460
06.02.19 - 559
12.02.19 - 381
12.04.19 - 527
23.05.19 - 398
26.06.19 - 465
07.08.19 - 388
This is (OK, tempting fate, has been so far!) an excellent share in which to trade. It's a very substantial company, which pays high dividends, and it's frankly not one that I can imagine going bust in the foreseeable future. And even if the price doesn't rise again to any significant degree it's an excellent income stock.
Without a doubt my favourite trading share