Atalaya Mining Plc (LON:ATYM) shares could jump to trade around 160p to 170p by the end of the first quarter if not before, so says technical analyst Zak Mir.
He says the recent rally, a 40% rise since the start of November, has been driven by the rise in copper prices amid Donald Trump’s election.
“If you look at the copper price chart it looks very similar,” Mir said in a Tip TV segment for Proactive Investors.
Mir notes a number of technical signals in the chart and highlights that the price has moved above prior resistance around 110p.
“While we hold above 110p I am looking for a big target here, as high as 160-170p over the next few months,” he added.
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