Will Acacia Mining break lower, or will it rise to 203p again?

• 171-203p channel since 19 Nov, new support at 179p; 
• Now 184p (at time of writing).
• Will the pattern repeat itself, testing previous 203p highs?
• Shares -12.8% from 2018 highs; +96.2% from 2018 lows; +0.5% year-to-date
• 14 Jan: FY gold production ahead of expectations
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Acacia Mining – An Example

Let’s say you like the Acacia range, you think it’s heading back towards 203p again. You decide to buy exposure to £10,000 worth of Acacia using a CFD, at the current price of 184p. To do this, you need £2,000.

Let’s assume Acacia rises back to 203p (+10.3%). Your profit would be £1030, 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. Acacia 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.