Polymetal
Is this breakout a good trade for you?
Will Polymetal turn, or will it continue towards 1100p (+14%)?
- Breakout above 932p to trade 958p (at time of writing).
- The ‘trend is your friend’. Will it continue towards 1100p (+14%)?
- Shares -0.3% from 2019 highs; +25.4% from 2019 lows; +16.5% year-to-date.
- 13 Jun: Polymetal reports higher ore reserves at Veduga gold deposit
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading Polymetal– An Example
Let’s say the breakout appeals to you, you think it’s likely to continue. You decide to buy exposure to £10,000 worth of Polymetal using a CFD, at the current price of 958p. To do this, you need £2,000.
Let’s assume the Polymetal trend continues upwards to 1100p (+14%). Your profit would be £1400, 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. Polymetal breaks lower, falling 5% and it hits your stop-loss. Your loss would be £500.
This is provided for information purposes only. It should not be taken as a recommendation.