Is this trend a good trading opportunity?
Will Galliford Try turn, or will it continue to rise to November high of 906p?
- The chart shows the Galliford Try price action since late October.
- Shares in a 3-week uptrend from 562p lows; now at 712p.
- Shares -1.2% from 2019 highs; +18.3% from 2019 lows; +14.4% year-to-date.
- 9 Jan: FTSE Housebuilders are rallying following positive results from peer Taylow Wimpey.
- In the past 3 weeks, the shares have risen over 28%. Will this momentum continue?
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Galliford Try – An Example
Let’s say the trend appeals to you, you think it’s likely to continue. You decide to buy exposure to £10,000 worth of Galliford Try using a CFD, at the current price of 712p. To do this, you need £2,000.
Let’s assume Galliford Try trend continues to November high of 906p (+27.2%). Your profit would be £2720, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 8% from the current price. Galliford Try falls 8% and hits your stop-loss. Your loss would be £800.
This is provided for information purposes only. It should not be taken as a recommendation.