Barrick Gold Corporation Fund Forecast
Green day on Thursday for Barrick Gold Corporation
(Updated on Jun 04, 2020)
The Barrick Gold Corporation fund price gained 0.90% on the last trading day (Thursday, 4th Jun 2020), rising from $23.22 to $23.43. During the last trading day the fund fluctuated 3.62% from a day low at $23.18 to a day high of $24.02. The price has been going up and down for this period, and there has been a -14.02% loss for the last 2 weeks. Volume fell on the last day by -1 million shares and in total, 22 million shares were bought and sold for approximately $513.99 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.
The fund lies in the lower part of a very wide and strong rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $23.38 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the fund is expected to rise 46.83% during the next 3 months and, with a 90% probability hold a price between $34.33 and $46.36 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
ABX Signals & Forecast
A buy signal was issued from a pivot bottom point on Wednesday, June 03, 2020, and so far it has risen 0.90%. 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 fund should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Barrick Gold Corporation fund holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $23.89 and $25.95. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Barrick Gold Corporation fund
Barrick Gold Corporation finds support from accumulated volume at $22.51 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the fund tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the fund moved $0.84 between high and low, or 3.62%. For the last week the fund has had daily average volatility of 3.74%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (ABX) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Barrick Gold Corporation to open at $23.54, and during the day (based on 14 day Average True Range), to move between $22.25 and $24.61, which gives a possible trading interval of +/-$1.18 (+/-5.06%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 10.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $23.92 (2.09%) than the support at $22.51 (3.93%), 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 fund A Buy?
The Barrick Gold Corporation fund holds several negative signals and despite the positive trend, we believe Barrick Gold Corporation will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this fund.
Current score: -1.529 Sell Candidate Unchanged
Predicted Opening Price for Barrick Gold Corporation of Friday, June 5, 2020
Fair opening price June 5, 2020 | Current price |
---|---|
$23.54 ( 0.484%) | $23.43 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ABX
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 24.38 | 4.07 % | |
R2 | 24.06 | 2.70 % | ||
R1 | 23.86 | 1.85 % | ||
Current price: | 23.43 | |||
Support | S1 | 23.22 | -0.89 % | |
S2 | 23.02 | -1.73 % | ||
S3 | 22.70 | -3.10 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 26.93 | 14.94 % | |
R2 | 23.95 | 2.22 % | ||
R1 | 23.92 | 2.09 % | ||
Current price | 23.43 | |||
Support | S1 | 22.51 | -3.93% | |
S2 | 19.50 | -16.77% | ||
S3 | 17.71 | -24.41% |
FAQ
Click here for our free guide on how to buy Barrick Gold Corporation Fund.