Will Inchcape break support or will it rise back to previous 638p highs?

• Rising range since October; Bounced 5 times. Now 582p (at time of writing)
• Will the pattern repeat itself, shares testing previous 638p highs?
• Shares -8.9% from 2019 highs; +8.6% from 2019 lows; +5.6% year-to-date
• 24 May: Starts £100m share buyback program
• 23 May: Revenues rise, Trading in-line with views
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading Inchcape – An Example

Let’s say you like the range, you think it’s heading back towards 638p again. You decide to buy exposure to £10,000 worth of Inchcape using a CFD, at the current price of 582p. To do this, you need £2,000.

Let’s assume Inchcape recovers back to 638p (+9.6%). Your profit would be £960, 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. Inchcape 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.