Barrick Gold Stock Forecast

GOLD Signals & Forecast

Mostly positive signals in the chart today. The Barrick Gold 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 $16.09 and $15.94. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, November 13, 2023, and so far it has risen 9.52%. 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). Volume is rising along with the price. This is considered to be a good technical signal.

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Support, Risk & Stop-loss for Barrick Gold stock

Barrick Gold finds support from accumulated volume at $16.42 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 $0.355 between high and low, or 2.17%. For the last week, the stock has had daily average volatility of 1.90%.

Our recommended stop-loss: $15.92 (-3.92%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (GOLD) For The Upcoming Trading Day Of Tuesday 28th

For the upcoming trading day on Tuesday, 28th we expect Barrick Gold Corporation to open at $16.53, and during the day (based on 14 day Average True Range), to move between $16.17 and $16.97, which gives a possible trading interval of +/-$0.403 (+/-2.43%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 4.87% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $16.58 (0.06%) than the support at $16.42 (0.91%), 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 stock to perform well in the short-term period.

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