Is this breakout a good trade for you?
Will KAZ Minerals turn, or will it continue to rise to July highs of 851p?
- Breakout above resistance at 594p to trade 617.6p (at time of writing).
- The ‘trend is your friend’. Will it continue towards 851.9p?
- Shares -44.1% from 2018 highs; +46.2% from 2018 lows; +16% year-to-date.
- 31 Jan: Miners higher on hopes of more China stimulus
- 31 Jan: Commodity prices supported by USD weakness after latest Fed update
- 24 Jan: Miner’s Q4 copper production +19%, top end of guidance.
- Source: Bloomberg, FT, Reuters, DJ Newswires, AlphaTerminal
Trading KAZ Minerals– An Example
Let’s say the breakout appeals to you, you think it’s likely to continue to 851p. You decide to buy exposure to £10,000 worth of KAZ Mineralsusing a CFD, at the current price 617.6p (at time of writing). To do this, you need £2,000.
Let’s assume the KAZ Minerals trend continues upwards to July highs of 851p (+37.8%). Your profit would be £3780, from your initial investment of £2,000.
Conversely, let’s assume you open the above position, and place a stop-loss at 7% from the current price. KAZ Minerals breaks lower, falling 7% and it hits your stop-loss. Your loss would be £700.
This is provided for information purposes only. It should not be taken as a recommendation.