ITV
A range trading opportunity for you?
Will ITV break support, or will it rise again to 138p last week’s highs?
- Rising support since Christmas; 3 bounces off support.
- Latest bounce off 126p today.
- Trading 127p (at time of writing)
- Will the pattern repeat itself, rising back to 138p last week’s highs?
- Shares -10.3% from 2019 highs; +4% from 2019 lows; +1.7% year-to-date.
- 22 Mar: Moody’s reiterated ITV’s Baa3 credit rating with stable outlook.
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading ITV – An Example
Let’s say you like the ITV range, you think it’s heading back up to 138p again. You decide to buy exposure to £10,000 worth of ITV using a CFD, at the current price of 127p. To do this, you need £2,000.
Let’s assume ITV rises back to 138p March highs (+8.6%). Your profit would be £860, 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. ITV 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.