Is this trend a good trading opportunity?
Will Rightmove turn back, or will it continue making fresh record highs?
- Shares +9.5% from April lows; Now 559p (at the time of writing).
- Will the record high keep going towards new 650p highs?
- 30 Apr: Rightmove Target Raised to 550p From 530p by Deutsche Bank
- Shares -0.2% from 2019 highs; +31% from 2019 lows; +29.3% year-to-date.
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Rightmove – 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 Rightmove using a CFD, at the current price of 559p. To do this, you need £2,000.
Let’s assume the Rightmove trend continues to 650p new highs (+16.2%). Your profit would be £1620, 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. Rightmove 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.