Due to the bearish trend, the target price is fixed at CAD 33.6 for Franco-Nevada.

The fundamental situation of the company remains fragile. Currently, the company is trading 10.4 times its sales, which is still a significant valuation for the company.

Graphically, we can see that the stock is in a bearish trend with decreasing moving averages, which serve as slant resistance. The security is moving towards CAD 33.6 in daily data, the next support area.

Therefore, we could take a short position to benefit from the downward trend. The security could quickly go toward the next support area located at CAD 33.6. A stop loss will be placed above the 38.6 resistance. If this threshold is crossed, this bearish strategy will be cancelled.