Will Antofagasta turn, or will it continue to rise towards April highs of 1020p? (+7.3%)

• Shares +24% from June lows with breakout above 911p
• Now 950p (at the time of writing).
• Will the positive momentum take them to April highs of 1020p (+7.3%)?
• Shares -7.4% from 2019 highs; +30.6% from 2019 lows; +21.3% year-to-date.
• Miners getting a boost from US-China growth/stimulus hopes
• 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 1020p. To do this, you need £2,000.

Let’s assume the Antofagasta trend continues to April highs of 1020p (+7.3%). Your profit would be £730, from your initial investment of £2000.

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.