Glencore
A trading opportunity for you?
Will Glencore break support, or will it rise again to 320p (+13%)?
- Rising support since 3 June
- Bounced 4 times to trade 281p (at time of writing)
- Will the pattern repeat itself, rising back to 320p (+13%)?
- Shares -18% from 2019 highs; +12.9% from 2019 lows; -3.3% year-to-date.
- Miners benefiting from hopes of rate cuts/more stimulus from central banks
- 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 320p again. You decide to buy exposure to £10,000 worth of Glencore using a CFD, at the current price of 281p. To do this, you need £2,000.
Let’s assume Glencore rises back to highs of 320p (+13%). Your profit would be £1300, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 4% from the current price. Glencore 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.