Antofagasta
Is this breakout a good trade for you?
Will Antofagasta turn, or will it continue to rise towards 1012p?
- Breakout above 931p to trade 946p (at time of writing).
- The ‘trend is your friend’. Will it continue to 1012p highs?
- Shares -1% from 2019 highs; +27.7% from 2019 lows; +20.9% year-to-date
- Mining shares benefiting US-China trade deal optimsim
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Click to enlarge
Trading Antofagasta – An Example
Let’s say the breakout appeals to you, you think it’s likely to continue towards 1012p. You decide to buy exposure to £10,000 worth of Antofagasta using a CFD, at the current price of 946p. To do this, you need £2,000.
Let’s assume the Antofagasta trend continues to 1012p (+6.9%). Your profit would be £690, 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.