Antofagasta
Is this breakout a good trade for you?
Will Antofagasta turn, or will it continue up towards 1020p (+10%)?
- Breakout above 912p to trade 922p (at time of writing).
- The ‘trend is your friend’. Will it continue towards 1022p (+10%)?
- Shares -10.1% from 2019 highs; +26.7% from 2019 lows; +17.7% year-to-date.
- 10 Jun: Base-metal Miners hit by easing of trade worries
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
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 922p (at time of writing). To do this, you need £2,000.
Let’s assume the Antofagasta trend continues up towards 1022p (+10%). Your profit would be £1000, 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. Antofagasta 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.