Close Bros
A trading opportunity for you?
Will Close Bros break support, or will it rise again back to 1675p ?
- Close Bros has rising support since November.
- Bounced 6 times, most recently at 1510p. Now trading at 1534p (at time of writing)
- Will the pattern repeat itself, bouncing up again towards 1675p?
- Shares -9.8% from 2018 highs; +9.1% from 2018 lows; +6% year-to date
- 25 Sept: FY 2018 Profits rise, Increases dividend
- Source: Bloomberg, FT, Reuters, DJ Newswires
Trading Close Bros – An Example
Let’s say you like the range, you think it’s heading back towards 1675p again. You decide to buy exposure to £10,000 worth of Close Bros using a CFD, at the current price of 1534p. To do this, you need £2,000.
Let’s assume Close Bros recovers back to 1675p (+9.2%). Your profit would be £920, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss 4% below the current price. Close Bros falls 4% and hits your stop-loss. Your loss would be £400.
This is provided for information purposes only. It should not be taken as a recommendation.