Will Antofagasta break support, or will it rise back to April 1022p highs?

• Shallow intersecting support since early Feb
• Down 10% from recent highs; Now trading 920p (at time of writing)
• Will the pattern repeat itself, rising back to recent 1022p highs?
• Shares -10.2% from 2019 highs; +26.7% from 2019 lows; +17.7% year to date
• 24 Apr: RBS says Q1 Production fall was offset by costs performance
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Antofagasta – An Example

Let’s say you like the Antofagasta range, you think it’s heading back up to 1022p again. You decide to buy exposure to £10,000 worth of Antofagasta using a CFD, at the current price of 920p. To do this, you need £2,000.

Let’s assume Antofagasta rises back to 1022p (+11%). Your profit would be £1100, 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. Antofagasta 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.