Will Evraz turn, or will it continue to rise to November highs around 584p?

• Shares +19% since late Jan, +11% in the past 2 weeks.
• Steelmaker’s shares broken above December highs of 498p today.
• Iron-ore prices at 4-week highs after mining accident in Brazil.
• Now trading 529p (at the time of writing).
• Will the positive momentum continue towards November highs around 584p?
• Shares -2.6% from 2019 highs; +18.9% from 2019 lows; +10% 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 529p. To do this, you need £2,000.

Let’s assume the Evraz trend continues to November highs around 584p (+10.3%). Your profit would be £1030, 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. Evraz 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.