Will Next break support or will it rise back to 5924p?

• 5544-5924p range since late April; Bounced 3 times; Now 5579p (at time of writing)
• Will the pattern repeat itself, the shares rising back to 5924p ?
• Shares -6.2% from 2019 highs; +40.3% from 2019 lows; 39.7% year-to-date
• 10 Jun: Next can adjust to retail market changes says Goldman Sachs
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

Click to enlarge

Trading Next – An Example

Let’s say you like the range, you think it’s heading back towards 5924p again. You decide to buy exposure to £10,000 worth of Next using a CFD, at the current price of 5579p. To do this, you need £2,000.

Let’s assume Next recovers to 5924p (+6%). Your profit would be £600, 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 falls 2% and hits your stop-loss. Your loss would be £200.

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