Will Intertek break support, or will it rise back to 5350p range ceiling?

• 4870-5350p rising range since October, bounced off the bottom of the range.
• Bounced off twin support at 4870p today
• Now trades 4929p (at time of writing)
• Will the pattern repeat itself, testing 5350p range ceiling?
• Shares -6.3% from 2019 highs; +7.1% from 2019 lows; +2.6% year to date
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Intertek – An Example

Let’s say you like the range, you think it’s heading back towards 5350p again. You decide to buy exposure to £10,000 worth of Intertek using a CFD, at the current price of 4929p. To do this, you need £2,000.

Let’s assume Intertek rises to 5350p range ceiling (+8.5%). Your profit would be £850, 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. Intertek 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.