Will Antofagasta turn, or will it continue up towards 1022p?

• Breakout above 853p to trade 865p (at time of writing).
• The ‘trend is your friend’. Will it continue towards 1022p?
• Shares -15.6% from 2019 highs; +18.9% from 2019 lows; +10.5% year-to-date.
• 10 Jun: Base-metal Miners hit by easing of trade worries
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Antofagasta – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue to 1022p . You decide to buy exposure to £10,000 worth of Antofagasta using a CFD, at the current price of 865p (at time of writing). To do this, you need £2,000.

Let’s assume the Antofagasta trend continues up towards 1022p (+18.1%). Your profit would be £1810, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Antofagasta breaks lower, falling 5% and it hits your stop-loss. Your loss would be £500.

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