Will Weir Group turn, or will it continue to rise to September highs around 1808p?

• Shares +36.2% since Christmas, mirroring a rally in oil prices.
• Oil services company’s shares testing late October highs.
• Now trading 1658p (at the time of writing).
• Will the positive momentum continue towards September highs around 1808p?
• Shares trade at 2019 highs; +33.25% from 2019 lows; +27.35% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Weir Group – 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 Weir Group using a CFD, at the current price of 1658p. To do this, you need £2,000.

Let’s assume the Weir Group trend continues to September highs around 1808p (+9%). Your profit would be £900, 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. Weir Group 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.