Antofagasta
A range trading opportunity for you?
Will Antofagasta break support, or will it rise back to April 1022p highs?
- 829p support since mid-Feb; down 21% from Apr highs
- Now trading 843p (at time of writing)
- Will the pattern repeat itself, rising back to recent 1022p highs?
- Shares -17.6% from 2019 highs; +16.1% from 2019 lows; +7.9% year to date
- 24 Apr: RBS says Q1 Production fall was offset by costs performance
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Antofagasta – An Example
Let’s say you like the Antofagasta range, you think it’s heading back up to 1022p again. You decide to buy exposure to £10,000 worth of Antofagasta using a CFD, at the current price of 843p. To do this, you need £2,000.
Let’s assume Antofagasta rises back to 1022p (+21.2%). Your profit would be £2120, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Antofagasta falls 5% and hits your stop-loss. Your loss would be £500.
This is provided for information purposes only. It should not be taken as a recommendation.