Endeavour Mining Corp. (EDV-T) rallied from $15.68 in March 2020 (not shown) to $39.21 in September (A) and then settled in a wide horizontal trading range mostly between $23 and $36 (dashed lines). The stock had a breakout from this range recently to signal the start of a new up-trend (B).
Behaviour indicators including the rising 40-week Moving Average (40wMA) confirm the bullish status. There is good support near $35-36; only a sustained decline below ±$35 would be negative.
Point & Figure measurements provide targets of $47 and $51. The large trading range (dashed lines) supports significantly higher targets.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com