Will Phoenix Group turn, or will it continue to rise to May ’18 highs around 725p?

• Shares +29.7% since early December.
• Bullish flag pattern.
• Now trading 693p (at the time of writing).
• Will the positive momentum continue towards May ’18 highs around 725p?
• Shares trade at 2019 highs; +25.25% from 2019 lows; +23.15% year-to-date.
• Phoenix Group manages life and pension assurance funds.
• 21 Feb: Keefe, Bruyette & Woods start coverage at “Outperform” and 900p target.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Phoenix Group – 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 Phoenix Group using a CFD, at the current price of 693p. To do this, you need £2,000.

Let’s assume the Phoenix Group trend continues to May ’18 highs around 725p (+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% from the current price. Phoenix Group 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.