Will Rightmove break support, or will it rise back to 482p?

• Sideways channel since early January.
• Bounced 4 times from support zone around 462p. Now 469p (at time of writing)
• Will the pattern repeat itself, rising back to 482p?
• Shares -3.5% from 2019 highs; +9.2% from 2019 lows; +8.5% year-to-date
• 5 Feb: Media sector outperformed the wider UK market in 2018 according to Citi.
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading Rightmove – An Example

Let’s say you like the Rightmove range, you think it’s heading back up to 482p again. You decide to buy exposure to £10,000 worth of Rightmove using a CFD, at the current price of 469p. To do this, you need £2,000.

Let’s assume Rightmove rises back to 482p (+2.7%). Your profit would be £270, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. Rightmove falls 2% and hits your stop-loss. Your loss would be £200.

This is provided for information purposes only. It should not be taken as a recommendation.