Barrick Gold Corporation Stock Forecast
Green day on Wednesday for Barrick Gold Corporation stock after gaining 4.22%
(Updated on Mar 27, 2024)
The Barrick Gold Corporation stock price gained 4.22% on the last trading day (Wednesday, 27th Mar 2024), rising from $21.10 to $21.99. During the last trading day the stock fluctuated 3.58% from a day low at $21.23 to a day high of $21.99. The price has been going up and down for this period, and there has been a 2.09% gain for the last 2 weeks. Volume fell on the last day by -115 thousand shares and in total, 3 million shares were bought and sold for approximately $56.59 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
Given the current short-term trend, the stock is expected to fall -9.53% during the next 3 months and, with a 90% probability hold a price between $16.25 and $19.89 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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ABX.TO 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 $21.23 and $20.51. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Wednesday, February 14, 2024, and so far it has risen 15.49%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $21.36 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.760 between high and low, or 3.58%. For the last week, the stock has had daily average volatility of 2.46%.
Our recommended stop-loss: $21.26 (-3.34%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 29 days ago.)
Trading Expectations (ABX.TO) For The Upcoming Trading Day Of Thursday 28th
For the upcoming trading day on Thursday, 28th we expect Barrick Gold Corporation to open at $21.74, and during the day (based on 14 day Average True Range), to move between $21.48 and $22.50, which gives a possible trading interval of +/-$0.507 (+/-2.30%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 4.61% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $21.36 (2.86%) than the resistance at $23.14 (5.23%), 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: 2.389 Buy Candidate Unchanged
Predicted Opening Price for Barrick Gold Corporation of Thursday, March 28, 2024
Fair opening price March 28, 2024 | Current price |
---|---|
$21.74 ( 1.15%) | $21.99 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABX.TO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 22.50 | 2.30 % | |
R2 | 22.21 | 0.98 % | ||
R1 | 22.03 | 0.168 % | ||
Current price: | 21.99 | |||
Support | S1 | 21.45 | -2.47 % | |
S2 | 21.27 | -3.29 % | ||
S3 | 20.98 | -4.61 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 23.64 | 7.50 % | |
R2 | 23.63 | 7.46 % | ||
R1 | 23.14 | 5.23 % | ||
Current price | 21.99 | |||
Support | S1 | 21.36 | -2.86% | |
S2 | 20.98 | -4.59% | ||
S3 | 19.79 | -10.00% |
ABX Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 14, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.100 | 0.468% |
2 | Nov 02, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.139 | 0.594% |
3 | Aug 08, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.132 | 0.586% |
4 | May 03, 2023 | May 30, 2023 | Jun 15, 2023 | $0.100 | 0.459% |
5 | Feb 15, 2023 | Feb 27, 2023 | Mar 15, 2023 | $0.133 | 0.553% |
FAQ
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