Antofagasta
Is this trend a good trading opportunity?
Will Antofagasta turn, or will it continue to rise towards April highs of 1020p? (+16%)
- Shares +15% from June lows with breakout from recent consolidation
- Now 878p (at the time of writing).
- Will the positive momentum take them to April highs of 1020p (+16%)?
- Shares -14.4% from 2019 highs; +20.7% from 2019 lows; +12.1% year-to-date.
- Miners getting a boost from China growth/stimulus hopes
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
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 1020p. To do this, you need £2,000.
Let’s assume the Antofagasta trend continues to April highs of 1020p (+16%). Your profit would be £1600, from your initial investment of £2000.
Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Antofagasta falls 5% and hits your stop-loss. Your loss would be £500.
This is provided for information purposes only. It should not be taken as a recommendation.