Will Antofagasta continue falling, or will it rise again back to 873p December highs?

• Antofagasta shares have fallen 13% from last week’s highs to trade 753p (at time of writing)
• Chilean miner’s shares falling after copper prices retreated on concerns over global growth and strong USD.
• Strong bounce of over +2% today.
• Shares -36.9% from 2018 highs; +3.7% from 2018 lows; -24.7% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Antofagasta – An Example

Let’s say you feel that the stock is a bargain and you think it could bounce back to recent highs of 873p. You decide to buy exposure to £10,000 worth of Antofagasta  using a CFD, at the current price of 753p. To do this, you need £2,000.

Let’s assume Antofagasta recovers back to 873p December highs (+15.9%). Your profit would be £1590, 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. Antofagasta 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.