Will Standard Chartered break support, or will it rise back to 641p?

• 578-641p range since November, bounced off floor
• Now trades 589p (at time of writing)
• Will the pattern repeat itself, testing the 641p ceiling?
• 26 Feb: Citi says full results mixed, dividend above forecast; to accelerate restructuring
• Shares -31.7% from 2019 highs; +2.8% from 2019 lows; -3.1% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Standard Chartered – An Example

Let’s say you like the range, you think it’s heading back towards 641p again. You decide to buy exposure to £10,000 worth of Standard Chartered using a CFD, at the current price of 589p. To do this, you need £2,000.

Let’s assume Standard Chartered  rises to 641p (+8.8%). Your profit would be £880, 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. Standard Chartered falls 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.