Will KAZ Minerals turn, or will it continue to rise towards 853p?

• Breakout above Feb highs resistance at 679p.
• Now trading at 692p (at time of writing).
• The ‘trend is your friend’. Will it continue towards 853p?
• Shares -0.7% from 2019 highs; +40.5% from 2019 lows; +30.3% year-to-date
• Miners trade higher on better than expected China PMI Services data
• Miners trade higher on US-China trade talks
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading KAZ Minerals – An Example

Let’s say the breakout appeals to you, you think it’s likely to continue towards 853p. You decide to buy exposure to £10,000 worth of KAZ Minerals using a CFD, at the current price of 692p. To do this, you need £2,000.

Let’s assume the KAZ Minerals trend continues to 853p (+23.2%). Your profit would be £2320, 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 breaks lower, falling 7% and it hits your stop-loss. Your loss would be £700.

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