Will Antofagasta turn, or will it continue to rise to July ’18 highs around 1009p?

• Shares +12% in the past 10 days.
• Shares broken above Feb highs at 906p.
• Now trading 930p (at the time of writing).
• Will the positive momentum continue towards July ’18 highs around 1009p?
• Shares trade at 2019 highs; +28.5% from 2019 lows; +18.8% year-to-date.
• 14 Feb: Miners are benefiting from upbeat Chinese trade data and higher copper prices.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Antofagasta – An Example

Let’s say the trend appeals to you, you think it’s likely to continue. You decide to buy exposure to £10,000 worth of Antofagasta using a CFD, at the current price of 930p. To do this, you need £2,000.

Let’s assume the Antofagasta  trend continues to July ’18 highs around 1009p (+8.4%). Your profit would be £840, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 4% from the current price. Antofagasta falls 4% and hits your stop-loss. Your loss would be £400.

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