Renegade Gold Inc. (RAGE; TSX: TGLDF; OTC: 070:FSE) has completed a multi-month base-building phase following a sharp prior decline.
The stock’s recent breakout confirms a bullish reversal of the long-term downtrend.
A key pattern is visible on the left side of the chart: a steep selloff in mid-2024. The current move appears to mirror that decline, suggesting a classic “same way down, same way up” price symmetry, a powerful technical setup often seen at cyclical bottoms.
Base Formation and Breakout
From late 2024 into early 2026, RAGE formed a broad accumulation base in the CA$0.22 to CA$0.30 range. Several bullish technical features are present:
- Rounded saucer bottom with multiple mini-cup formations
- Rising volume at the base, confirming accumulation
- 200-day MA flattening and turning up, a late-cycle confirmation
The stock broke through horizontal resistance at CA$0.38–CA$0.40, triggering a measured move higher and validating the base.
Targets Met and the Potential for more to come
- First Target: CA$0.60, Achieved
- Second Target: CA$0.75, Also met
- Current consolidation underway near CA $0.44 suggests potential setup for next leg
- Next Resistance Zone: CA$1.10–CA$1.15 (previous gap-down area)
- Third target: CA$1.60
- Big Picture Target: CA$3.00, representing a full retracement of the prior decline and aligning with the “back price resistance” zone from 2024
Volume & Momentum Indicators
- RSI is in bullish territory, with no signs of bearish divergence at this stage
- Recent spikes in volume suggest institutional entry or fund buying
The steep angle of the current move implies a potential “point of recognition” event, where the market collectively re-rates the stock based on changing fundamentals or strategic positioning (e.g., proximity to West Red Lake Gold Mines Ltd.’s (WRLG:TSX.V; WRLGF:OTCQX; UJO:FSE) producing Madsen Mine asset)
Conclusion: Accumulation to Expansion
Renegade Gold has broken out of a long basing pattern on strong volume and technical momentum. The setup strongly suggests this is the beginning of a larger revaluation cycle, rather than a one-off rally.
Technically, all signs point to continued upside, with near-term consolidation providing a possible re-entry zone for traders and long-term investors alike.
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As always it is important to note that investing in precious metals like silver carries risks, and market conditions can change violently with shock and awe tactics, that we have seen over the past 20 years. Before making any investment decisions, it’s advisable consult with a financial advisor if needed. Also the practice of conducting thorough research and to consider your investment goals and risk tolerance.