Norilsk Nickel – the rise in the price of nickel and palladium stopped the fall in shares
NEWS /INVESTMENT EVENT
Historically, Norilsk Nickel has one of the lowest nickel production costs in the world. The ability to work and earn in the new conditions with low prices is beyond doubt, unlike more than 50% of nickel producers in the world, who are forced to suspend production. The closure of inefficient production facilities affected the price of nickel, which began to rise.
TAKE PROFIT
Norilsk Nickel's shares have fallen by almost 50% from their historical high and are at the levels of 5 years ago. At the level of 14,300 rubles, there is a strong support level, from which the price has rebounded. The RSI oscillator turned around and broke through the 50 limit. We believe that the price will continue to rise to the level of 15,800 rubles, which is 8% of the current price of 14,630 rubles.
STOP LOSS
Do not forget about risk management. An overabundance of nickel and palladium in the world may prompt the West to increase sanctions pressure on Norilsk Nickel. If the price is fixed below 14,200 rubles, the scenario with a further price increase is canceled. The stop order can be placed at the level of 14260 rubles (-2.5% of the current price of 14630 rubles).
Disclamer. The analytics presented here are designed for people who have at least a basic understanding of the Russian financial market. If you have difficulties with the practical implementation of our recommendations, you can use the services of our specialists with the Portfolio Consultant package at the link: https://eraperemen.info/priobresti/
