Will Evraz break lower, or will it rise to 496p again?

• The Evraz trading range has developed since late November.
• Shares bounced from support zone 4 times, most recently this week.
• Now trading 473p (at time of writing).
• Will the pattern repeat itself, testing previous highs?
• Evraz is a Russia and North America focused steelmaker.
• Metals & mining shares could benefit from more progress in US-China trade talks.
• Shares -21.6% from 2018 highs; +39.8% from 2018 lows; +39.3% year-to-date
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Evraz – An Example

Let’s say you like the Evraz range, you think it’s heading back towards 496p again. You decide to buy exposure to £10,000 worth of Evraz using a CFD, at the current price of 473p. To do this, you need £2,000.

Let’s assume Evraz rises back to 496p (+4.9%). Your profit would be £490, from your initial investment of £2,000.

Conversely, let’s assume you open the above position, and place a stop-loss at 2% from the current price. Evraz falls 2% and hits your stop-loss. Your loss would be £200.

This is provided for information purposes only. It should not be taken as a recommendation.