Glencore
A trading opportunity for you?
Will Glencore break support, or will it rise again to 312p?
- Rising support since 7 Jan with 3 bounces,
- Latest bounce at 289p to trade 295p (at time of writing).
- Will the pattern repeat, the shares climbing back towards 312p?
- Shares -30.0% from 2018 highs; +8.7% from 2018 lows; +1.5% year-to-date.
- 4 Feb: UBS says Q4 results were in-line
- 4 Feb: Glencore ramps up Copper and Zinc output
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Glencore – An Example
Let’s say you like the Glencore chart and you think the price is heading back towards 312p again. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 295p. To do this, you need £2,000.
Let’s assume Glencore rises back to 312p (+5.7%). Your profit would be £570, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. Glencore falls 2% and hits your stop-loss. Your loss would be £200.
This is provided for information purposes only. It should not be taken as a recommendation.