Friday's tip on UK-Analyst is an idea from TopSpreadBets.com
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Open A Buy Bet In The Centamin Egypt Rolling Spread Says TopSpreadBets.com On Wednesday the tipsters at TopSpreadBets.com recommended opening a buy bet in Centamin Egypt at 154.5p. Currently trading at 160.6p those who followed that advice are already standing on decent gains. But the team believes there is further to go! For more spread betting ideas and advice sign up now by clicking here. The Bet: We recommend opening a buy bet in the rolling Centamin Egypt (CEY) spread at £20 a penny when the quote is standing at 154p - 155p. The target is 180p and the stop loss is 124p for a risk of £620 at our suggested wager.
The
Fundamental View: We are recommending a buy
bet in Centamin in the wake of the latest trading
update and 10% plus decline for the shares. The decline
in the stock came after a production decline of 17%,
although the group has forecast that it will be able to
meet its expected 200,000 ounces previous guidance. We
also note that on July 30th The Telegraph's Questor
reiterated its buy recommendation, but feel that the
bet is strong enough to withstand the type of tip that
would be regarded by some as the kiss of death. In fact
the main fundamental buying catalyst at
Topspreadbets.com is Centamin reporting its maiden
operating profit. With Gold prices on the back foot and
the stock price also off the top this bet should be a
classic buy on weakness winner. 
The Technical View: We are recommending a buy bet in the Centamin rolling spread on the basis of the likely support found right at the bottom of a price channel in place on the daily chart since the end of February. It looks as though barring a significant new negative for the shares the low 150p's zone will mark the low of the recent collapse. The stop loss of 124p allows for plenty of overshoot as we look for a rebound up to the 180p plus 2010 resistance line projection target.
Conclusion: Open a buy bet in the Centamin rolling spread as the shares find the bottom of a rising trend channel. With www.t1pspreadbetting.com, you can be spreadbetting within minutes – click here to sign up.
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