Will Standard Chartered turn, or will it continue to rise beyond 648p?

• The chart shows Standard Chartered price action over the last 6 weeks.
• Shares in a 3-week uptrend from October’s 514p lows; now at 602p.
• Shares -31.7% from 2018 highs; +14.8% from 2018 lows; -22.8% year-to-date
• In the last 3 weeks, the shares have risen over 15%. Will this momentum continue?
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading  Standard Chartered – 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 Standard Chartered using a CFD, at the current price of 602p. To do this, you need £2,000.

Let’s assume Standard Chartered trend continues to September high of 648p (+7.6%). Your profit would be £760, 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. Standard Chartered 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.