Barrick Gold Corporation Stock Forecast

Red day on Friday for Barrick Gold Corporation
(Updated on Jun 28, 2024)

ABR.F 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. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at 15.66€ and 15.64€. 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 5.24%. 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). Some negative signals were issued as well, and these may have some influence on the near short-term development. Volume fell along with the price during the last trading day, which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk.

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.

In general the stock tends to have controlled movements and therefore the general risk is considered low. However, be aware of low or falling volume and make sure to keep an eye on the stock. During the last day, the stock moved 0.300€ between high and low, or 1.92%. For the last week the stock has had daily average volatility of 1.90%.

Our recommended stop-loss: 15.11€ (-3.78%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 54 days ago.)

Trading Expectations (ABR.F) For The Upcoming Trading Day Of Monday 1st

For the upcoming trading day on Monday, 1st we expect Barrick Gold Corporation to open at 15.76€, and during the day (based on 14 day Average True Range), to move between 15.34€ and 16.07€, which gives a possible trading interval of +/-0.368€ (+/-2.34%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 4.69% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 15.67€ (0.23%) than the resistance at 15.98€ (1.76%), 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?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.058 Buy Candidate Unchanged

Predicted Opening Price for Barrick Gold Corporation of Monday, July 1, 2024

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