Will Standard Chartered break support, or will it rise again to 697p?

• Rising support since October
• 4 bounces, most recently last week, to trade 628p (at time of writing).
• Will the pattern repeat, the shares climbing back towards 697p?
• Shares -28.0% from 2018 highs; +21.0% from 2018 lows; +3.2% year-to-date.
• 29 Nov: StanChart among winners of UK Bank stress tests says Berenberg
• 26 Nov: Standard Chartered eyes simpler structure, sources tell Bloomberg
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Standard Chartered – An Example

Let’s say you like the Standard Chartered chart and you think the price is heading back towards 697p again. You decide to buy exposure to £10,000 worth of Standard Chartered using a CFD, at the current price of 628p. To do this, you need £2,000.

Let’s assume Standard Chartered rises back to 697p (+11.0%). 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 3% from the current price. Standard Chartered 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.