Will Rightmove break support, or will it rise again back to highs of 473p?

• Rightmove has support around 416p, with 5 bounces since early March.
• Now trading 426p (at time of writing).
• Will the pattern repeat, the shares climbing back towards 473p?
• Shares -21% from 2018 highs; +2.8% from 2018 lows; -5.25% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading Rightmove – An Example

Let’s say you like the Rightmove chart and you think the price is heading back towards 571p again. You decide to buy exposure to £10,000 worth of Rightmove using a CFD, at the current price of 426p. To do this, you need £2,000.

Let’s assume Rightmove rises back to 473p (+11%). Your profit would be £1100, 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. Rightmove 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.