OSK, Osisko update

The usual then – 12 Nov, 2012 – and now charts;

osk nov 10 updateosk aug 27 2013

The arrows actually point to about $3 , that part we  got right. But we did not get the triangle which shows one of two possibilities and we did waver a bit as $16 to $3 seemed like an awful lot, briefly $6 seemed to be low enough. Today we would count this whole thing as a double zig-zag, which could mean a complete correction were it not that there also exist triple zig-zags as in A-B-C X A-B-C Y A-B-C. For the moment we will ignore that possibility. This stock is at the 200 day moving average, near the upper trend line and the RSI is in overbought territory. Also the rebound is nicely symmetric so a pause may be required after this double from the lows, but the stock does have the potential to go a lot higher , perhaps >$10.

OSK, Osisko update

Then, Nov 12, 2012 and now charts;

osk nov 10 updateosk jan 25

We are looking for a target at around $6 and a bit. Coming from $16 plus that is a nice Fibonacci 61.8% (no calculator required!) AND a completed 5 wave sequence or, alternatively, a full correction in a double zig-zag. Wait for the RSI to drop into the 20% area which should happen at about the same time the stock makes a new low. A buy at that time!

OSK , Osisko Exploration update

osk aug 7 2012

We remain constructive on this stock. At $9.55 you are up 52% from $6.25. As a minimum we would expect it to get as high as about $10, the 200 day moving average, the trend line is at about $11 and if the count is correct levels at or above $16 are possible. But a bird in the hand etc.etc.  You can play this with a running stop, simple cash in at a slightly higher level or go for the ride. All depends on your own constitution.