Will Antofagasta turn, or will it continue to rise to Jul ’18 highs around 1012p?

• Shares +33.2% since early January.
• Now trading 957p (at the time of writing).
• Will the positive momentum continue towards July ’18 highs around 1012p?
• Shares -0.5% from 2019 highs; +30% from 2019 lows; +22.5% year-to-date.
• 26 Feb: Mining shares benefiting Pres. Trump extending US-China trade talks
• 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 957p. To do this, you need £2,000.

Let’s assume the Antofagasta trend continues to July ’18 highs around 1012p (+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. Antofagasta falls 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.