stock
EroCopper (ERO-T, Monday’s close $42.01) built a large multi-year base, trading largely between $10 and $30 from 2019 to 2025 (dashed lines). The stock broke out of this range in late 2025 and reached a high of $53.69 in January (A), at which point it was significantly overbought and well extended above its 40-week moving average (40wMA).
Since then, the stock has pulled back and found support at the 40wMA (B), which now aligns with the top of the former trading range – an area of prior resistance that has turned into support. A decisive move above $45 would suggest the resumption of the uptrend toward higher targets.
Behaviour indicators, including the rising 40wMA, confirm the bullish status. Only a sustained decline below the average (currently near $35-36) would be negative.
A rise above $45 would signal initial Point & Figure targets of $48 and $53. The broader multi-year base (dashed lines) supports significantly higher targets.
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart, courtesy of www.LSEG.com