Will Glencore continue falling, or will it recover 282p highs (+6%)?

• Shares -10% from recent highs; bounced by 5%
• Bounce off support to trade 267p (at time of writing)
• Will the pattern repeat itself, rising back to recent highs of 282p (+5%)?
• Shares -22% from 2019 highs; +7% from 2019 lows; -8.5% year-to-date.
• 27 Jun: Congo mine collapse kills at least 19, Glencore Says
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Glencore – An Example

Let’s say you feel that the stock is a bargain and you think could bounce back towards highs of 282p. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 266p. To do this, you need £2,000.

Let’s assume Glencore recovers back to 282p highs (+5%). Your profit would be £500, 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. Glencore 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.