Will AB Foods (Primark) break support, or will it rise again to 2655p?

• Rising support since mid-March
• Bounced 3 times from support to trade 2530p (at time of writing)
• Will the pattern repeat itself, rising back to 2655p?
• Shares -1.2% from 2019 highs; +26% from 2019 lows; +24% year-to-date.
• 24 Apr: AB Foods H1 results in-line with FY guidance; Primark excellent
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading AB Foods (Primark) – An Example

Let’s say you like the AB Foods (Primark) range, you think it’s heading back up to 2655p again. You decide to buy exposure to £10,000 worth of AB Foods (Primark) using a CFD, at the current price of 2530p. To do this, you need £2,000.

Let’s assume AB Foods (Primark) rises back to 2655p (+4.9%). Your profit would be £490, 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. AB Foods (Primark) falls 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.