A trading opportunity for you?
Will Tullow Oil break support, or will it rise again to 250p?
- Rising support since late Dec at 211p
- Bounced 2 times from support zone to trade 221p (at time of writing)
- Will the pattern repeat itself, rising back to Oct highs around 250p?
- Shares -13.4% from 2019 highs; +29.1% from 2019 lows; +23% year-to-date.
- 14 Feb: Brokers at Canaccord raised the target price on Tullow Oil to 290p.
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Tullow Oil – An Example
Let’s say you like the Tullow Oil range, you think it’s heading back up to 250p again. You decide to buy exposure to £10,000 worth of Tullow Oil using a CFD, at the current price of 221p. To do this, you need £2,000.
Let’s assume Tullow Oil rises back to Oct highs around 250p (+13.1%). Your profit would be £1310, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 5% from the current price. Tullow Oil falls 5% and hits your stop-loss. Your loss would be £500.
This is provided for information purposes only. It should not be taken as a recommendation.