Polymetal
Is this trend a good trading opportunity?
Will Polymetal turn, or will it continue to rise to 1098p highs (+11%)?
- Shares bounced 29% from May lows;
- Now trading 982p (at the time of writing).
- Will the positive momentum continue towards 1098p (+11%)?
- Shares -0.3% from 2019 highs; +28.5% from 2019 lows; +19.4% year-to-date.
- 13 June: Polymetal ore reserves increase at Veduga gold deposit
- Gold prices benefiting from weak USD and geopolitical tensions
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
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 982p. To do this, you need £2,000.
Let’s assume Polymetal trend continues to 1098p highs (+11%). Your profit would be £1100, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 3% from the current price. Polymetal falls 3% and hits your stop-loss. Your loss would be £300.
This is provided for information purposes only. It should not be taken as a recommendation.