Is this breakout a good trade for you?
Will Intertek turn, or will it rise back to July highs of 6073p?
- Breakout above 5396p to trade 5473p (at time of writing).
- The ‘trend is your friend’. Will it continue towards 6073p?
- Shares -0.6% from 2019 highs; +19.5% from 2019 lows; +14.1% year-to-date.
- 25 May: On track to deliver FY revenue, margin and cash targets
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Intertek – An Example
Let’s say the breakout appeals to you, you think it’s likely to continue to 6073p . You decide to buy exposure to £10,000 worth of Intertek using a CFD, at the current price 5473p (at time of writing). To do this, you need £2,000.
Let’s assume the Intertek trend continues upwards to 6073p (+10.9%). Your profit would be £1090, 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. Intertek breaks lower, falling 3% and it hits your stop-loss. Your loss would be £300.
This is provided for information purposes only. It should not be taken as a recommendation.