Will PageGroup break support, or will it rise again back to recent 584p highs?

• PageGroup has a shallow rising support since early March, bouncing 4 times, most recently last week off 488p.
• Now trading at 503p (at time of writing).
• Shares -20.45% from 2018 highs; +14.3% from 2018 lows; +7.8% year-to-date
• Will the pattern repeat itself, with the shares bouncing off support again?
• PageGroup provides recruitment consulting services (formerly known as Michael Page).
• 10 Oct: Brokers at HSBC say there are no signs of a slowdown at PageGroup.
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading PageGroup – An Example

Let’s say you like the PageGroup chart and you think the price is heading back towards 584p again. You decide to buy exposure to £10,000 worth of PageGroup using a CFD, at the current price of 503p.  To do this, you need £2,000.

Let’s assume PageGroup rises back to 584p October highs (+16.1%). Your profit would be £1610, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. PageGroup falls 7% and hits your stop-loss. Your loss would be £700.

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