Barrick Gold Corporation Stock Forecast

Barrick Gold Corporation stock price up 0.349% on Tuesday
(Updated on Jun 25, 2024)

ABR.F Signals & Forecast

A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 4.17%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Barrick Gold Corporation has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Barrick Gold Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at 15.64€. On a fall, the stock will find some support from the short-term average at 15.41€. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal.

Support, Risk & Stop-loss for Barrick Gold Corporation stock

Barrick Gold Corporation finds support from accumulated volume at 15.52€ 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 0.206€ (1.33%) between high and low. For the last week, the stock has had daily average volatility of 2.31%.

Our recommended stop-loss: 14.94€ (-3.90%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 51 days ago.)

Trading Expectations (ABR.F) For The Upcoming Trading Day Of Wednesday 26th

For the upcoming trading day on Wednesday, 26th we expect Barrick Gold Corporation to open at 15.55€, and during the day (based on 14 day Average True Range), to move between 15.18€ and 15.92€, which gives a possible trading interval of +/-0.371€ (+/-2.38%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 4.77% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 15.52€ (0.15%) than the resistance at 15.67€ (0.80%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Barrick Gold Corporation stock A Buy?

Barrick Gold Corporation holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.

Current score: -0.647 Hold/Accumulate Unchanged

Predicted Opening Price for Barrick Gold Corporation of Wednesday, June 26, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.