Since its listing in June 2014, Osisko Gold OR-T traded in a horizontal range mostly between $12.00 and $18.50 (dashed lines), with two brief exceptions: 2018 (not shown) and 2020 (A). The stock had a breakout above this range in 2023 (B), a brief reversal below the 40-week Moving Average (40wMA - C), and then rallied toward the Average and remained within a horizontal trading range mostly between $18.00 and $20.50 for about three months (dotted lines). The rise above the top of this range and above the rising 40wMA signaled the resumption of the long-term uptrend (D). A sustained rise above the 2023-high would confirm it. There is good support near ±$21; only a decline below $20-21 would be negative.
Point & Figure measurements provide targets of $26 and $29. Higher targets are visible.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com