Will Inchcape turn, or will it continue to rise towards 649p?

• Breakout above 586p; Now trading 591p (at time of writing).
• Could they recover to their channel ceiling highs of 649p
• Shares -7.5% from 2019 highs; +10.3% from 2019 lows; +7.3% year-to-date
• 23 May: Inchcape to start £100m buyback program
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Inchcape – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue towards 649p. You decide to buy exposure to £10,000 worth of Inchcape using a CFD, at the current price of 591p. To do this, you need £2,000.

Let’s assume the Inchcape trend continues to highs of 649p (+9.8%). Your profit would be £980, 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. Inchcape breaks lower, falling 3% and it hits your stop-loss. Your loss would be £300.

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