During the period of active trading during the past month on the London Metal Exchange stocks Kazakh company KAZ Minerals showed positive growth. The team of analysts and traders in conjunction with the Trade-24 marketing department is paying your attention to the technical analysis of the price policy of the shares of mining companies in Kazakhstan, as well as point out the factors that could lead to changes in the cost.
Financial experts of our broker noted three periods regarding the sale of shares in this segment. The first time was active from 3rd to 12th January. Average balanced price for the goods has stabilised at rates in £ 367,20 for £ 431.10 per unit share. Active resistance of shares was due to speculation on the price of copper and related metals (namely development and production of copper and associated ores are the basis of the Kazakh company income), as well as high rates tend to buy the ability of so-called “neighbouring metal” – aluminium and nickel.
The second-period cost of goods defined reversal in prices. It lasted from 13 to 23 January. Changes in value caused fluctuations on the gold market – while the product itself for eight days (from 13 to 19 January) lost in the value of up to £ 38 per unit. Trade-24 experts point out two features – high volatility in the market due to the request of increasing the organic production of copper. Also, investors were not concerned about KAZ Minerals Report for the 4th quarter, which later turned out to be more than positive, which gave better dynamics lift the price of the company’s shares in the following stages.
Last stage – the strengthening and raising the cost. It lasted from 24 January to 7 February and continued the further movement of the likely resistance breaks (at the time of writing the material). During this period, the value of the precious metal after a small correction began to rise in price from £ 426.60 to £ 543.50 level. Now there is a smooth correction at around £ 500-506 per ounce goods. The reason for this became proactive buyers of copper, a series of strikes at copper mines in Chile, which raised the cost of produced products from Kazakhstan due to the absence of any other more profitable alternatives.
Analysts Trade-24 companies believe that before the end of February we should expect three possible scenarios. The first is the stabilisation of price at the formula £ 490 +/- 8-16 pounds correlation. In the second scenario will occur towards the support level of £ 460-475 for enhanced support of large traders. Third – make a breakthrough at the degree of the resistance level at £ 515-529, which opens towards the mark of £ 540-560.