Will Anglo American turn, or will it continue to rise towards 2012 highs of 2927p?

• Breakout above 2057p Jan 2013 highs; Now trading 2107p (at time of writing).
• Could they recover to 2012 highs of 2927p?
• Shares -0.06% from 2019 highs; +26.4% from 2019 lows; +20.6% year-to-date
• Miners trade higher on better than expected China PMI Manufacturing data
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Anglo American – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue towards 2927p. You decide to buy exposure to £10,000 worth of Anglo American using a CFD, at the current price of 2107p. To do this, you need £2,000.

Let’s assume the Anglo American trend continues to highs of 2927p (+38.9%). Your profit would be £3890, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. Anglo American breaks lower, falling 7% and it hits your stop-loss. Your loss would be £700.

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