Will Rightmove turn back, or will it continue making fresh record highs?

• Shares +9.5% from April lows; Now 564p (at the time of writing).
• Will the record high keep going towards new 650p highs?
• 30 Apr: Rightmove Target Raised to 550p From 530p by Deutsche Bank
• Shares -1.5% from 2019 highs; +32.3% from 2019 lows; +30.6% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Rightmove – 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 Rightmove using a CFD, at the current price of 564p. To do this, you need £2,000.

Let’s assume the Rightmove  trend continues to 650p new highs (+15.2%). Your profit would be £1620, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Rightmove 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.