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Debt levels are certainly manageable so whilst they are heavy as they are with most companies with Covid, as long as we get back to normal they should not be a problem.
Likewise the SFO stuff is well know and as the company is down from approx £4 per share to £1.30ish you could say that all captured in the price. Remember the stock market works on heard mentality so typically gets hammered more than it should and then sometimes rises more than it should on good news....
So as always it what we don’t know that kills us......We could very very easily rise given that as oil production increases so will the services needed to produce oil.....
For me it’s definitely the wrong time to sell but WTFDIK......
If we have a Supercycle, If we have Bidens stimulus, If we get away lightly with SFP then £5 plus per share...
CSD, I sold also Friday, shorts not closing and there's a reason fir that, plus agree with you that results will be a blood bath, that's what the shorts are waiting for. I took my profit, and always promised myself I wouldn't get involved in this much debt
I’m a holder, in my ISA for a couple of years as a plan minimum.
I’m hoping SFO come out with a clean bill against PFC, OR, we don’t hear anything still for a while.
My Reasoning is due to if there was a fine from the SFO, our Debt levels are a little scary at the moment. So delay until the books are a little healthier with contracts and revenue hitting, if a fine is coming, we need the bottom line to be healthier..
Maybe why it’s still dragging on.. Knowing through COVID were on our knees and a severe fine would have severe ramifications to share holders?
Love the optimism from most on here - and notice that Cripes character went quiet after early morning appearance !
Not sure If I've done right thing, but sold 2/7 of my holding near the close at 137p from a purchase at 113p on 19th Jan on basis it's never wrong to take a profit. with oil having risen to high 60s thought there is a chance of pull back next week, so can re-purchase if get chance.
Got a higher average cost of 124p on remaining 5/7. My plan is to sell 2/7 if we get to 170p and leave 3/7 for LTH with target of at least 250p.
I am pretty sure it was (the same) SFO news that kicked SP down to 438p when I first bought on 1/3/18. That only took a couple of months to get to £6 where I sold.
We have a while to wait for 2020 Results, which we should expect to be very poor. What will matter is whether the world is getting back to work, so PFC services are back in demand. There seems to be a good flow of contract news, so should expect future earnings to pick up again. Then of course we could do with SFO announcement. TBH the silence from SFO is worse than a fine because of the uncertainty it creates, whereas a fine can be put into the accounts as a "one-off" no matter the size, and then be discounted to assess future profits.
The good thing about PFC’s performance today was the fact that it punched up through the wedge pattern that has put a ceiling on the price for the last three weeks: https://invst.ly/u1uql But it was plain that the rise had much to do with the ‘artificial’ lift in OP and little to do with the merits of PFC. By ‘artificial’, I mean OP rose on the basis of extended production cuts rather than an increase in demand. Does PFC benefit from reduced levels of production? No! So it was profit taking time for me, offloading about 2/3rds.
140 is key - last time it went up through that from a low, it stayed above it and reached 177 in december, dipped back below 140 at the end of december to 136 and dipped back below again early jan to 136 - after this it moved quickly back to 172 in a twelve day period, before that SFO announcement trashed it down to the low of 101.7.
we are seeing the higher highs, higher lows being put in over the last month - based on this pattern, with the last pull back yesterday touching 126 and moving up to 136 today, i would expect 1 of 2 scenarios next week...
1. open up on monday and see the first assault on 140, with potential to hit 1.41 on the offer, then pull back to around the 1.33 mark as profit takers move in, before steadying for the push to stay above 140
2. open down on monday, with a pull back to the 129/131 level before making a run at 140.
at the moment, i see 140 as the big resistance level - if we can turn that into support then 170 is on the cards, however, the two caveats to watch out for with regards weakness are
those accounts -with any post period negatives that we do not know of. dropping out of ftse250
get past both of those without too much trouble and there isn't really anything to stop this moving up further.
Yes Mancs, i'm also from the hard school knocks mate!...
@Paddy, here what you're saying mate, but I have a policy of 'no regrets'.. and i'm still invested, so would still like to see 140+.. but I have to weigh up the options. IF the shorts are reduced tonight...i'll buy some more in the morning! We shall see.
Probably the best bit of advice you could give anyone about investing Bladey and certainly something that I've learnt over the years and has served me well. Don't get too greedy and always take a little off the table when you're winning.
Hi guys, I have just bought in to this company after noticing it has broken through the 50MA. As of now it is sitting on the 100MA. I have had it on my shortlist so its not spur of the moment thing. Hopefully it is the start of a looong upwards trend. GLA.