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

• The chart shows the Polymetal price action over the past 6 weeks.
• Shares in a 21% uptrend since November lows; now at 843p.
• 17 Dec: Polymetal sold its Khakanja mine for $30m in cash and assumed debt.
• 29 Nov: Completed acquisition of remaining 82.3% stake in the Nezhda project.
• 12 Nov: Completed a feasibility study of Nezhda gold mine in Russia.
• Shares -10.5% from 2018 highs; +46.45% 2018 lows; -8.4% year-to-date.
• In the past 2 weeks, the shares have added 6.9%. 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 843p. To do this, you need £2,000.

Let’s assume Polymetal trend continues to 944p 2018 highs (+12%). Your profit would be £1200, 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.