Will Microfocus break support, or will it rise back to 2175p July high?

• 1665-2510p range since March, bounced off the bottom of the range.
• Now trades 1679p (at time of writing)
• Will the pattern repeat itself, testing 2175p recent high?
• Shares -53% from 2019 highs; +1.2% from 2019 lows
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Microfocus – An Example

Let’s say you like the range, you think it’s heading back towards 2175p again. You decide to buy exposure to £10,000 worth of Microfocus using a CFD, at the current price of 1679p. To do this, you need £2,000.

Let’s assume Microfocus rises to 2175p recent high (+45%). Your profit would be £4500, 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. Microfocus rises 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.