Will Rightmove break support, or will it rise again back to highs of 443p?

• Rightmove has rising support since mid-October .
• 4 bounces, most recently yesterday
• Now trading 424p (at time of writing).
• Will the pattern repeat, the shares climbing back towards 443p?
• Shares -21.2% from 2018 highs; +2.6% from 2018 lows; -5.8% year-to-date.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Rightmove – An Example

Let’s say you like the Rightmove chart and you think the price is heading back towards 443p again. You decide to buy exposure to £10,000 worth of Rightmove using a CFD, at the current price of 423p. To do this, you need £2,000.

Let’s assume Rightmove rises back to 443p (+4.7%). Your profit would be £470, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. Rightmove falls 2% and hits your stop-loss. Your loss would be £200.

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