Rank Group
A trading opportunity for you?
Will Rank break support, or will it rise again back to 195p summer highs?
- Rank has a support zone around 150p since mid-October, bouncing 4 times, most recently last week.
- Now trading 160.7p (at time of writing).
- Will the pattern repeat itself, with the shares bouncing off support again?
- Shares -36.0% from 2018 highs; +7.1% from 2018 lows; -33.2% year-to-date.
- 1 Nov: Rank, a UK-based casino operator, appointed William Floydd as CFO, effective 12 Nov
- 18 Oct: Latest results saw revenues -4.9% YoY, but digital still positive and group identified early cost savings as part of transformation.
- Source: Bloomberg, FT, Reuters, DJ Newswires
Trading Rank – An Example
Let’s say you like the Rank chart and you think the price is heading back towards 195p again. You decide to buy exposure to £10,000 worth of Rank using a CFD, at the current price of 160.7p. To do this, you need £2,000.
Let’s assume Rank rises back to 195p (+21.3%). Your profit would be £2130, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 8% from the current price. Rank falls 8% and hits your stop-loss. Your loss would be £800.
This is provided for information purposes only. It should not be taken as a recommendation.