Bullish on SSR Mining

On Jan. 26 , we identified a breakout from a large trading range on SSR Mining and we provided Point & Figure targets of $17 and $19. Shortly afterward, the stock had a sharp rise to $20 to fulfill and exceed our targets .

The stock became overbought at that time and quite far above its 40-week Moving Average . After a minor correction toward its average, it found support near ±$14.50 . Only a sustained decline below ±$15 would be negative.Story continues below advertisement Point & Figure measurements provide targets of $20 and $22. The large trading range supports 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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