Great Week for PFC29 Jan 2021 16:46
- Reversed downtrend of 38% over six sessions, with a 25% rise over three sessions and a small retrace of 3% over two sessions.
- No negative coverage of Petrofac for the whole week, sentiment appears to be changing: regarding the fine, my experience shows that investors tend to sell on speculation and buy the facts. Even if this comes back as hefty, then I reckon we won't see too much of a penalty to the SP (actually could see a jump)
- Shorts reducing positions is a good thing and long may it continue with the new trend of attacking shorted stocks.
In comparison, BP down 6.5% and RDSA/RDSB down 6%. We're up 16%.