Will Kingfisher break lower, or will it rise back to 267p October highs again?

• Kingfisher shares are trading in a 238-267p range since mid-September.
• Bounced off support zone 5 times, most recently today.
• Now trading 241p (at time of writing)
• DIY rival Homebase’s website voted the worst UK website.
• Will the pattern repeat itself, testing previous lows?
• Shares -34% from 2018 highs; +1.6% from 2018 lows; -28.7% year-to-date
• Source: Dow Jones, Bloomberg, FT, Company News

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Trading Kingfisher – An Example

Let’s say you like the range, you think it’s heading back towards 267p again. You decide to buy exposure to £10,000 worth of Kingfisher  using a CFD, at the current price of 241p. To do this, you need £2,000.

Let’s assume Kingfisher rise back to 267p (10.8%). Your profit would be £1080, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 6% from the current price. Kingfisher falls 6% and hits your stop-loss. Your loss would be £600.

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