Will Hunting break support, or will it rise again back to 900p?

• Hunting has a support level since March, with the latest bounce off 648p this week.
• Now trading 690p (at time of writing).
• Shares -29.6% from 2018 highs; +18.3% from 2018 lows; +14.3% year-to-date.
• Hunting is an oil & gas services company
• 3 Oct: Hunting says Q3 revenues steady, backs full-year outlook
• 30 Aug: UBS says Hunting H1 results top hopes, earnings upgrades likely
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading Hunting – An Example

Let’s say you like the Hunting chart and you think the price is heading back towards 900p again. You decide to buy exposure to £10,000 worth of Hunting using a CFD, at the current price of 690p. To do this, you need £2,000.

Let’s assume Hunting rises back to 900p (+30.4%). Your profit would be £3040, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 10% from the current price. Hunting falls 10% and hits your stop-loss. Your loss would be £1000.

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