I am not a financial adviser. I am only sharing my opinions with like minded HC members here for discussions.
Right now OSL is tracking towards the upper boundary of the uptrend channel. It has been pretty positive as it stayed in the upper half of the channel since 01-Nov-2019 after clinical evaluation report was resubmitted.
If OSL keeps on moving up, the next price targets are as follows:
21c @ 100% Fibonacci
25.5c @ 125% Fibonacci which happens to coincide with the peak of 05-Jul-2018.
30.5c @ 150% Fibonacci (Bell Potter reaffirmed TP @ 30c on 10-Feb-2020)
40c @ 200% Fibonacci. It is not unusual for a strong impulsive move to reach this level and beyond. However whether it stays at that level is a separate matter as profit takers would no doubt move in quickly. Just look at nearly every big green candle was followed by one big red or a few smaller red candles. Once the short term traders are out of the way in the consolidation, the SP would make another advance. Get ready for some volatility.
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