Will Antofagasta turn, or will it continue to rise towards 2018 highs of 1160p? (+14%)

• Shares +36% from December lows; Breakout above 995p 
• Now trading 1015p (at time of writing);
• Will the positive momentum continue towards last year’s highs of 1160p? (+14%)
• Shares -0.5% from 2019 highs; +30% from 2019 lows; Flat year-to-date
• 10th April. Copper prices rally on China stimulus hopes as producers meet in Chile
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Antofagasta – An Example

Let’s say the trend appeals to you, you think it’s likely to continue. You decide to buy exposure to £10,000 worth of Antofagasta using a CFD, at the current price of 1160p. To do this, you need £2,000.

Let’s assume the Antofagasta trend continues to 2018 highs around 1160p (+14%). Your profit would be £1400, from your initial investment of £2000.

Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. Antofagasta  falls 7% and hits your stop-loss. Your loss would be £700.

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