EUA

The EUA share price has crawled back in the past few weeks as investors seem to embrace companies with exposure to Russia. Eurasia Mining stock has risen to about 11p, substantially higher than the year-to-date low of 5.5p. Still, the company's shares are about 75% below the highest level in 2021, even as platinum and palladium prices have held steady. Eurasia Mining crawls back. Eurasia is a relatively small mining company valued at about 363 million pounds. The company focuses on platinum group metals (PGM) like platinum and palladium. These are some of the most important metals globally, considering that they are widely used in the automobile industry. In addition, they have unique characteristics that make them useful in catalytic converter manufacturing. Eurasia Mining operates primarily in Russia, one of the biggest producers of these metals. Its two mines are Kola Peninsula and Ural Mountains. In addition to PGMs, the company is also moving to the hydrogen business, which is expected to have strong growth in the coming years. Therefore, the EUA share price collapsed sharply in the first quarter because of the Russian invasion of Ukraine. This invasion led to major sanctions on Russia, meaning that companies will likely have a challenge selling products internationally. Still, there is a likelihood that Eurasia Mining products will continue finding buyers. Western companies like BMW and Volkswagen widely use these PGMs. Still, the biggest challenge for Eurasia's share price is that the company was making strong losses even before the new challenges. It had a loss of over $3.6 million in 2020 and $1.46 million in the first half of the year to June last year. These losses will likely remain for a while. EUA share price forecast On the 1D chart, we see that the Eurasia share price has risen in the past few days. But this rebound has been a bit unconvincing. A closer look shows that it has formed what looks like a bearish flag pattern that is shown in green. A flag pattern is usually a bearish sign. The stock is also below the 50-day moving average. Therefore, there is a likelihood that the EUA share price will resume the bearish trend will resume in the coming days as bears target the YTD low at 5.45p.

EUA

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