Osisko Gold Royalties OR-T built an eight-year base, mostly between $10 and $18 (dashed lines), had a breakout from that range in early-2023 (A) and then pulled back to $15.42 in October 2023 (B). In our previous report (June 13, 2024 - $22.58) we suggested that the stock appeared ready to resume the uptrend toward targets of $26 and $29. Subsequently, Osisko rallied to a high of $29.57 in October 2024 which fulfilled our targets (C). The stock is currently in the midst of a minor correction within a narrow range mostly between $25.50 and $29.50 (dotted lines). Only a sustained decline below $25.50 would be negative. A rise above $30 would signal the resumption of the long-term uptrend.
A rise above $30 would signal a Point & Figure target of $34. Higher targets are visible.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com).
Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com