Will Marks & Spencer break support, or will it rise again back to 314.5p ?

• Marks & Spencer has shallow rising support since April.
• Bounced 5 times off support zone, most recently off 269p yesterday.
• Now trading at 270p (at time of writing)
• Will the pattern repeat itself, bouncing up again towards 314.5p October highs?
• Shares -16.2% from 2018 highs; +5.1% from 2018 lows; -14% year-to-date
• 11 Dec: Appointed ex-Sainsbury CEO Justin King to board
• 27 Nov: CBI distributive trades survey signaled a pick-up in retail sales in the first half of November
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Marks & Spencer – An Example

Let’s say you like the range, you think it’s heading back towards 314.5p again. You decide to buy exposure to £10,000 worth of Marks & Spencer using a CFD, at the current price of 270p. To do this, you need £2,000.

Let’s assume Marks & Spencer recovers back to 314.5p October highs (+16.5%). Your profit would be £1650, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. Imperial Brands falls 7% and hits your stop-loss. Your loss would be £700.

This is provided for information purposes only. It should not be taken as a recommendation.