Evraz
Is this trend a good trading opportunity?
Will Evraz turn, or will it continue to rise to November highs around 584p?
- Shares +15.3% in 10 days, +10% in the past week.
- Steelmaker’s shares broken above December highs of 498p today.
- Iron-ore prices rally after mining accident at Vale’s Brazilian mine.
- Now trading 509.8p (at the time of writing).
- Will the positive momentum continue towards November highs around 584p?
- Shares -0.8% from 2019 highs; +14.4% from 2019 lows; +6% year-to-date.
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
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Trading Evraz – An Example
Let’s say the trend appeals to you, you think it’s likely to continue. You decide to buy exposure to £10,000 worth of Evraz using a CFD, at the current price of 509.8p. To do this, you need £2,000.
Let’s assume the Evraz trend continues to November highs around 584p (+14.5%). Your profit would be £1450, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 8% from the current price. Evraz falls 8% and hits your stop-loss. Your loss would be £800.
This is provided for information purposes only. It should not be taken as a recommendation.