Will Polymetal turn, or will it continue to rise to 944p 2018 highs?

• The chart shows the Polymetal price action over the past month.
• Shares in a 14% uptrend in the past month; now at 812.3p.
• 29 Nov: Polymetal completed the acquisition of the remaining 82.3% stake in the Nezhda project.
• 12 Nov: Company successfully completed a feasibility study of its Nezhda gold mine in Russia.
• First production is planned Q4 2021, with full production by Q2 2022.
• Shares -14.8% from 2018 highs; +39.32% 2018 lows; -11.7% year-to-date.
• In the last 4 weeks, the shares have risen over 14%. Will this momentum continue?
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

Click to enlarge

Trading Polymetal – 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 Polymetal using a CFD, at the current price of 812.3p. To do this, you need £2,000.

Let’s assume Polymetal trend continues to 944p 2018 highs (+16.2%). Your profit would be £1620, 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 rises 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.