Is this breakout a good trade for you?
Will Spirax Sarco turn, or will it continue to rise towards 7397p?
- Breakout above 6865p; Now trading 6980p (at time of writing).
- Could they recover to prior highs of 7397p?
- Shares -4% from 2019 highs; +20.2% from 2019 lows; +12.2% year-to-date
- 7 Mar: Sees 2019 adjusted op profit margin in line with 2018
- 7 Mar: Organic sales growth ahead of global industrial production
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Spirax Sarco – An Example
Let’s say the breakout appeals to you, you think it’s likely to continue towards 7397p. You decide to buy exposure to £10,000 worth of Spirax Sarco using a CFD, at the current price of 6980p. To do this, you need £2,000.
Let’s assume the Spirax Sarco trend continues to highs of 7397p (+5.9%). Your profit would be £59, 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. Spirax Sarco 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.