Will Glencore turn, or will it continue to rise to Oct ’18 highs of 341p?

• Shares +11% in 2 weeks.
• Now trading 321p (at the time of writing).
• Will the positive momentum continue towards 341p Oct ’18 highs?
• Shares -1.15% from 2019 highs; +19.8% from 2019 lows; +10.4% year-to-date.
• 21 Mar: Miners rise after the US Federal Reserve kept interest rates on hold
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Glencore – 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 Glencore using a CFD, at the current price of 321p. To do this, you need £2,000.

Let’s assume the Glencore trend continues to Oct ’18 highs of 341p (+6.2%). Your profit would be £620, 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. Glencore 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.