Is this trend a good trading opportunity?

Will AstraZeneca turn, or will it continue to gain momentum toward 6,122.5p all-time highs?

• The chart shows price action in September.
• Currently trading at 5,849p (as of the time of writing).
• AstraZeneca shares are on a strong 2018 momentum, +27.47 from 2018 lows, +14% year-to-date.
• Shares just 4.6% away from all-time record highs seen in early August.
• Upwards momentum resumed after positive data from Imfinzi lung cancer drug clinical trial.
• Imfinzi has been approved for use within the EU, US, Japan and other countries.
• AstraZeneca boast a fast-growing portfolio of new treatments.
• Shares in a weeklong uptrend (+4.2% in the last week). Will the momentum continue?

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Trading AstraZeneca – 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 AstraZeneca using a CFD, at the current price of 5,849p. To do this, you need £2,000.

Let’s assume AstraZeneca trend continues to 6,122.5p all-time record highs (+4.6%). Your profit would be £460, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 3% below the current price. AstraZeneca 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.