Barrick Gold Corporation Stock Forecast
Barrick Gold Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Thursday trading session.
(Updated on Jun 20, 2024)
The Barrick Gold Corporation stock price gained 4.37% on the last trading day (Thursday, 20th Jun 2024), rising from 15.25€ to 15.92€. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.44% from a day low at 15.30€ to a day high of 15.98€. The price has risen in 6 of the last 10 days and is up by 1.69% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 103 thousand more shares were traded than the day before. In total, 132 thousand shares were bought and sold for approximately 2.10€ million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Barrick Gold Corporation stock with a 90% probability to be traded between 14.74€ and 16.92€ at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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ABR.DE Signals & Forecast
The Barrick Gold Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at 15.19€ and 15.63€. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 6.66%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barrick Gold Corporation stock
Barrick Gold Corporation finds support from accumulated volume at 15.67€ and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved 0.680€ (4.44%) between high and low. For the last week, the stock has had daily average volatility of 2.29%.
Our recommended stop-loss: 15.29€ (-3.92%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 48 days ago.)
Trading Expectations (ABR.DE) For The Upcoming Trading Day Of Friday 21st
For the upcoming trading day on Friday, 21st we expect Barrick Gold Corporation to open at 15.73€, and during the day (based on 14 day Average True Range), to move between 15.53€ and 16.30€, which gives a possible trading interval of +/-0.386€ (+/-2.42%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 4.85% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at 15.98€ (0.40%) than the support at 15.67€ (1.56%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Barrick Gold Corporation stock A Buy?
Several short-term signals are positive and we conclude that the current level may hold a buying opportunity, as there is a fair chance for Barrick Gold Corporation stock to perform well in the short-term period. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 3.061 Buy Candidate Upgraded
Predicted Opening Price for Barrick Gold Corporation of Friday, June 21, 2024
| Fair opening price June 21, 2024 | Current price |
|---|---|
| 15.73€ ( 1.16%) | 15.92€ |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABR.DE
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 16.41 | 3.11% |
| R2 | 16.15 | 1.48% |
| R1 | 15.99 | 0.468% |
| Price | 15.92 | |
| S1 | 15.47 | -2.80% |
| S2 | 15.31 | -3.80% |
| S3 | 15.05 | -5.44% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.28 | 8.53% |
| R2 | 16.68 | 4.76% |
| R1 | 15.98 | 0.402% |
| Price | 15.92 | |
| S1 | 15.67 | -1.56% |
| S2 | 15.49 | -2.66% |
| S3 | 15.42 | -3.13% |
ABR Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | May 31, 2024 | May 31, 2024 | Jun 17, 2024 | 0.0922€ | 0.616% |
| 2 | Feb 28, 2024 | Feb 28, 2024 | Feb 28, 2024 | 0.100€ | 0.758% |
| 3 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | 0.0912€ | 0.565% |
| 4 | Aug 30, 2023 | Aug 30, 2023 | Sep 15, 2023 | 0.0915€ | 0.588% |
| 5 | May 30, 2023 | May 30, 2023 | May 30, 2023 | 0.100€ | 0.637% |
FAQ
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