Having formed a bearish 'head-and-shoulders' top in February, Petrofac (PFC) has since slumped by some 30 per cent, says Ragu Dharmaratnam of Baselica.
The pain may not have passed, either. Should the blue 'neckline' support at 1,250p give way, traders could go short, targeting 750p. The monthly RSI reading has gone below 50 for the first time since January 2009.