Will Sports Direct break support, or will it rise again to April highs of 306p (+36%)?

• 224-306p  since December; 
• Now trading 224p (at time of writing)
• Will the pattern repeat itself, shares testing 306p April highs (+36%)?
• Shares -36% from 2019 highs; +3% from 2019 lows; -80% year to date
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading Sports Direct – An Example

Let’s say you like the range, you think it’s heading back towards 306p again. You decide to Buy exposure to £10,000 worth of Sports Direct using a CFD, at the current price of 224p. To do this, you need £2,000.

Let’s assume Sports Direct rises back to range ceiling at 306p (+36%). Your profit would be £3600, 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. Sports Direct 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.