Will KAZ Minerals break support, or will it rise again back to 740p ?

• Twin rising support at 502p; Bounce and Breakout
• Now trading 529p (at time of writing).
• Will the pattern repeat? Will the shares bounce to 740p again?
• Shares -29% from 2019 highs; +7.3% from 2019 lows; -0.5% year-to-date.
• 29 Apr: Peel Hunt says weak Q1 shouldn’t obscure Aktogay potential
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading KAZ Minerals – An Example

Let’s say you like the KAZ Minerals chart and you think the price is heading back towards 740p again. You decide to buy exposure to £10,000 worth of KAZ Minerals using a CFD, at the current price of 529. To do this, you need £2,000.

Let’s assume KAZ Minerals rises back to highs of 740p (+39.8%). Your profit would be £3980, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. KAZ Minerals falls 7% and hits your stop-loss. Your loss would be £700.

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