Will Tesco break rising support, or will it rise again to recent highs of 243p (+5.7%)?

• Rising range from 220p – 243p  since early June; 
• Now trading 230p (at time of writing)
• Will the pattern repeat itself, shares testing 243p July highs (+5.7%)?
• Shares -10.4% from 2019 highs; +17.3% from 2019 lows
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading Tesco – An Example

Let’s say you like the range, you think it’s heading back towards 243p again. You decide to Buy exposure to £10,000 worth of Tesco using a CFD, at the current price of 230p. To do this, you need £2,000.

Let’s assume Tesco rises back to recent ceiling high at 243p (+5.7%). Your profit would be £570, 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. Tesco 3% and hits your stop-loss. Your loss would be £300.

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