Eurasia Mining: these are the levels you need to watch
Shares have surged after returning from suspension this year. Our chartist sees where they could head.
23rd December 2020 09:37
by Alistair Strang from Trends and Targets
Shares have surged after returning from suspension earlier this year. Our chartist sees where they could head next.
Eurasia Mining (LSE:EUA)
A lot has happened in the four months since we last reviewed Eurasia Mining (LSE:EUA), not least today (Tuesday) being woken at 6am by grandchildren arguing.
- Eurasia Mining: further growth potential on the cards?
- Why reading charts can help you become a better investor
Platinum and gold producer, Eurasia, achieved our initial target level postulated in August and, while it came close to our secondary of 45p, it's a worry the mid-price only achieved 44p before tumbling back to the 30p level.
Perhaps it was a calibration error, but we doubt it. Unless the company make a faux pas, once it started trading beyond our initial target level, continued travel to 45p was pretty inevitable and we suspect it's 'just' overall market conditions provoking hesitation.
The situation now is pretty useful, movement next above 43p suggesting ongoing travel to an initial 57p with secondary, if bettered, at a longer-term 77p.
To finish on an easy note, the price needs to fall below 26p to now cause utter panic.
Source: Trends and Targets Past performance is not a guide to future performance
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or interactive investor will be responsible for any losses that may be incurred as a result of following a trading idea.
Alistair Strang has led high-profile and "top secret" software projects since the late 1970s and won the original John Logie Baird Award for inventors and innovators. After the financial crash, he wanted to know "how it worked" with a view to mimicking existing trading formulas and predicting what was coming next. His results speak for themselves as he continually refines the methodology.
Alistair Strang is a freelance contributor and not a direct employee of Interactive Investor. All correspondence is with Alistair Strang, who for these purposes is deemed a third-party supplier. Buying, selling and investing in shares is not without risk. Market and company movement will affect your performance and you may get back less than you invest. Neither Alistair Strang or Interactive Investor will be responsible for any losses that may be incurred as a result of following a trading idea.
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