Mitie Group
Is this an opportunity to take a position ahead of the results?
Mitie Group reports results tomorrow (26 Sept)
- The chart shows the price movement last time Mitie Group reported (7 June).
- The shares opened 2.3p higher and moving as high as 15.3p higher through the session.
- Company narrowed its full-year loss thanks to effective cost cutting programme.
- Mitie Group will issue a Half-year results tomorrow (26 Sept)
- Recent share price range: September lows 139p; September highs 164p. Currently 152p (at time of writing).
Trading Mitie Group – An Example
Let’s say you think that Mitie Group results are likely to be good, and the share price is likely to rise. You decide to buy exposure to £10,000 worth of Mitie Group using CFDs, at the current price of 152p. To do this, you need £2,000.
For the purpose of this example, let’s assume Mitie Group reports strong results and the shares rise 5%. Your profit would be £500, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss 3% below the current price. Mitie Group results miss, it falls 3% and hits your stop-loss. Your loss would be £300.
This is provided for information purposes only. It should not be taken as a recommendation.