Will Centamin break support, or will it rise again to 97.9p recent highs?

• Rising support since September; horizontal from mid-October
• Bouncing from 89p last week.
• Trading 92.7p (at time of writing)
• Will the pattern repeat itself, rising back to 97.9p recent highs?
• Shares -31.8% from 2019 highs; +6.4% from 2019 lows; -14.3% year-to-date.
• 22 Mar: Peel Hunt says the gold miner should see a recovery in production at its Sukari mine in Q2 this year.
• Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal

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Trading Centamin – An Example

Let’s say you like the Centamin range, you think it’s heading back up to 97.9p again. You decide to buy exposure to £10,000 worth of Centamin using a CFD, at the current price of 92.7p. To do this, you need £2,000.

Let’s assume Centamin rises back to 97.9p recent highs (+5.5%). Your profit would be £550, 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. Centamin 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.