A trading opportunity for you?
Will Glencore break support, or will it rise again to 341p?
- Rising support since November
- Bounced 3 times to trade 275p (at time of writing)
- Will the pattern repeat itself, rising back to recent highs of 341p?
- Shares -20% from 2019 highs; +2.4% from 2019 lows; -5.7% year-to-date.
- 13 May: Moody’s says Glencore Looks strong despite unremarkable 2019 outlook
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Glencore – An Example
Let’s say you like the Glencore range, you think it’s heading back up to 341p again. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 275p. To do this, you need £2,000.
Let’s assume Glencore rises back to April highs of 341p (+24%). Your profit would be £2400, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Glencore falls 5% and hits your stop-loss. Your loss would be £500.
This is provided for information purposes only. It should not be taken as a recommendation.