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SSR Mining had a sharp rise from $5.28 to $20.48 in 2016 (A-B), reversed and pulled back to $10.32 later in the year (C). After a recovery rally to $16.11 in early-2017 (D), it settled in a horizontal trading range mostly between $10.00 and $14.50 for about two years (dashed lines).

The recent rise to $15.75 suggests a breakout from this range and the start of a new up-leg toward higher targets (E).

Behaviour indicators including the rising 40-week Moving Average (40wMA) and the rising trend-line (solid line) confirm the bullish status. Only a sustained decline below ±$13.50 would be negative.

Point & Figure measurements provide targets of $17 and $19. The large trading range (dashed lines) supports potentially higher targets.

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. ( And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

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