Will InterContinental Hotels break support, or will it rise back to 4581p Jan highs?

• InterContinental Hotels trades a narrowing range since late Oct.
• Latest bounce off 4242p rising support on Monday. Now 4325p (at time of writing)
• Will the pattern repeat itself, falling back to 4581p Jan highs?
• Shares -6% from 2018 highs; +1.8% from 2018 lows; -2.9% year-to-date
• 15 Nov: Hotel group’s shares upgraded to “Buy” by Berenberg
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading InterContinental Hotels – An Example

Let’s say you like the InterContinental Hotels range, you think it’s heading back to 4581p again. You decide to buy exposure to £10,000 worth of InterContinental Hotels using a CFD, at the current price of 4325p. To do this, you need £2,000.

Let’s assume InterContinental Hotels rises to 4581p Jan highs (+5.9%). Your profit would be £590, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. InterContinental Hotels rises 3% and hits your stop-loss. Your loss would be £300.

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