Will Standard Chartered break resistance, or will it fall back to 575p?

• Sideways range since November.
• Resistance again at 643p. Now 634p (at time of writing)
• Will the pattern repeat itself, shares testing prior 575p lows?
• Shares -2.8% from 2019 highs; +10.5% from 2019 lows; +4.1% year-to-date
• 15 March: Big Banks, incl. STAN Fined $100m for Hong Kong IPO failures (Wall St Journal)
• Exposure to slowing China 
• Source: Dow Jones, Bloomberg, FT, Company News, AlphaTerminal

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Trading Standard Chartered – An Example

Let’s say you like the Standard Chartered range, you think it’s heading back down to 575p again. You decide to sell exposure to £10,000 worth of Standard Chartered using a CFD, at the current price of 634p. To do this, you need £2,000.

Let’s assume Standard Chartered falls back to 575p (-9.7%). Your profit would be £970, 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. Standard Chartered 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.