Will Next turn, or will it continue to rise towards 6202p June/July highs?

• Breakout above 5753p; Now trading 5856p (at time of writing).
• Could they recover to prior highs of 6202p?
• Shares -0.5% from 2019 highs; +47.4% from 2019 lows; +46.8% year-to-date
• 21 Mar: Peel Hunt says FY results perfectly acceptable, outlook statement as good as could have been expected
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Next – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue towards 6202p. You decide to buy exposure to £10,000 worth of Next using a CFD, at the current price of 5856p. To do this, you need £2,000.

Let’s assume the Next  trend continues to highs of 6202p (+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 2% from the current price. Next breaks lower, falling 2% and it hits your stop-loss. Your loss would be £200.

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