Will Victrex break support, or will it rise again back to 3430p highs?

• Victrex has shallow 12-month rising support at 2428p, bouncing 5 times, most recently this week.
• Now trading 2591p (at time of writing).
• Shares -25.6% from 2018 highs; +7.9% from 2018 lows; -2.1% year-to-date.
• 25 July: Victrex still at top of its game says AJ Bell
• specialty chemicals company
• Source: Bloomberg, FT, Reuters, DJ Newswires

Click to enlarge

Trading Victrex – An Example

Let’s say you like the Victrex chart and you think the price is heading back towards 3430p again. You decide to buy exposure to £10,000 worth of Victrex using a CFD, at the current price of 2591p. To do this, you need £2,000.

Let’s assume Victrex rises back to 3430p (+32.4%). Your profit would be £3240, 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. Victrex 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.