Will AB Foods (Primark) break support, or will it rise again to 2435p?

• Rising support since early Jan at 2255p
• Bounced 4 times from support zone to trade 2259p (at time of writing)
• Will the pattern repeat itself, rising back to 2435p?
• Shares -5% from 2019 highs; +15% from 2019 lows; +11.6% year-to-date.
• 25 Feb: Primark’s owner reported sales growth in all businesses except Sugar.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading AB Foods (Primark) – An Example

Let’s say you like the AB Foods (Primark) range, you think it’s heading back up to 2435p again. You decide to buy exposure to £10,000 worth of AB Foods (Primark) using a CFD, at the current price of 2259p. To do this, you need £2,000.

Let’s assume AB Foods (Primark) rises back to 2435p (+7.8%). Your profit would be £780, 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. AB Foods (Primark) 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.