Analysis: Positive progressions in Lundin Mining!

After a time of clear pressed mood in tune with both precious and base metals declined on the stock exchange, Lundin Mining commenced in the autumn of negative progressions. Underlying köpstyrka has started to look up for just over a week ago at the heavy technical support level, which opens up for an attractive recovery and renewed trip to the north…

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After topping out earlier in the fall to record a new 10-year high, Lundin Mining launched the fall in a clearly negative tracks.

The sales force managed to dominate up until a little over a week ago, which means that Lundin Mining has gone from trading around 63 sek to Wednesday’s closing price at 56.90 dollars.

The decline has been limited by the company’s share found land surrounding the underlying significant technical support level at sek 56.

Both base and precious metals have scored properly with the pisk last time, as a result of strong overbought, and a weaker us dollar, which can get a recovery and provide further back behind the buyer.

Thus, we see a köpläge already at 56.50 crowns, and a trip further north to our målkurs at 62.00 dollars.

During the trip, we expect a short counter-thrust from the sellers at the 60 bucks, but possibly also already at 58 sek.

We choose to get out at 62 kronor, because here we are expecting heavy resistance from sellers. Given that there is a risk of potential reversal on the stock exchange, it may be worthwhile to harvest the fruit already here.

It would appear that the support at sek 56 not manage to keep, and that we get a breakthrough with the continued weakness, yes, then the risk increases that we get a trip down to 54, followed by 50 dollars. To limit such possible nedsida, is placed, preferably a stop loss already at 55 dollars.

The relief came in addition, on Tuesday, by the company’s mine Minera Candelaria, according to a press release, has reached agreements with three different unions, which represents workers at the company’s mine in Chile.

The new settlement will, once it has been registered with the ministry of Labour, run over a period of 36 months. Copper mine Candelaria employs a total of 1.567 employees, and an additional 2.500 contractors.

The stock is traded on the stockholm stock exchange, under the symbol LUMI.