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Eurasia Mining is down by 5 percent in today’s trading session, continuing its high volatility trend that has persisted for months. However, despite the drop, the share price is still in a sideways market, with its prices trading between the ranges of 4p and 7.5p for almost two weeks.
The company, which engages in the exploration, development and production of minerals such as copper, nickel, gold, palladium, platinum, rhodium, and other minerals, has seen its share price dropping drastically since April. However, in July, it saw a small bump in its share price, closing the markets with a gain of 4 percent.
Unlike other companies dealing with Russia minerals, EUA has not been targeted by sanctions. However, this has not stopped it from declining in the stock markets. Since the year started, the company has lost 33 percent of its value. Despite making some gains in July, this month also looks aggressively bearish, with the company already down by 5 percent.
EUA Share Price Analysis
Throughout the year, Eurasia mining has struggled in the markets for myriads of reasons, including the fact that it deals with minerals from Russia, which has become heavily sanctioned. The rising cost of living and fears of looming recession has also played a part in the current decline of the company’s share prices.
Today, all these issues that the company has been dealing with have not been addressed. Therefore, despite trading in a sideways market for almost two weeks, my EUA share price prediction is still to the downside. I expect the prices to have another major break to the downside, where we might see the company trading below the 4p price level. A trade above 7.5p will, however, invalidate my analysis.
This post was last modified on %s = human-readable time difference 15:39