RE:what the graph said:Merci
What the technical analysis of the OSK chart says:
It's not hard to understand, whether you take a 5 day, 1 month, 3 month, 6 month, 1 year, 3 year or 5 year chart, you can see that OSK is seriously taking off!
Take the 1 year chart:
We can say that OSK has been in a neutral or stable corridor since August 2023. Its support was $2.42 (support reached on September 26, 2023, January 31 and February 22, 2024) and its resistance was 3.03 (on September 29, 2023). November 2023).
OSK has just easily surpassed its resistance of $3.03 and is heading towards $3.40 and then towards $4.31
There is one thing that must be understood and which is quite reliable in technical analysis, it is the following fact: the longer a stock remains in a corridor (bullish, bearish or neutral), the stronger is its exit once it 'He crosses his corridor.
Currently, OSK has been in neutral corridor for more than 9 months and it has just moved sharply upwards. Should this continue for a little while in my opinion?
The reasons which contribute to its rise are: (besides the fact that DISNAT says that it is strongly bullish in the short, medium and long term)
1- the price of gold rises as a safe haven in uncertain times on the stock market
2- the graph confirms a strong exit from the corridor which has lasted for a long time
3- the Windfall mine will soon have its operating permit from the Government of Quebec. We know that OSK is going to get it because the Government has already allocated a block of electricity to OSK for the mine and the electricity line is already built and in operation...
4- OSK will begin construction of the mine as soon as the permits are obtained WITHOUT ANY additional financing required (no share dilution) because OSK already holds the financing for the mine.
5- OSK will soon obtain 300 Million $$$ from Gold Fields once the permits are obtained
6- OSK continues $75 million drilling (already financed by Gold Fields) to find extensions next to Windfall. See communication of October 26, 2023.
Have a good and long ride everyone