Barrick Gold Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
![Bollinger Bottleneck Buy Pattern 1](https://stockinvest.us/assets/img/legend/boll_tight.gif?v=4acb9e3f64711d632b0cd32bad1a43b5bed911ae)
![Bollinger Bottleneck Buy Pattern 2](https://stockinvest.us/assets/img/legend/boll_tight2.gif?v=4acb9e3f64711d632b0cd32bad1a43b5bed911ae)
![Bollinger Bottleneck Sell Pattern](https://stockinvest.us/assets/img/legend/boll_tight3.gif?v=4acb9e3f64711d632b0cd32bad1a43b5bed911ae)
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Stronger technical forecast for Barrick Gold stock price after Wednesday trading.
(Updated on Jul 03, 2024)
The Barrick Gold stock price gained 4.09% on the last trading day (Wednesday, 3rd Jul 2024), rising from $16.62 to $17.30. During the last trading day the stock fluctuated 3.09% from a day low at $16.84 to a day high of $17.36. The price has risen in 6 of the last 10 days and is up by 5.42% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 7 million more shares were traded than the day before. In total, 19 million shares were bought and sold for approximately $325.90 million.
The stock lies the upper part of a wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $17.53 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -4.36% during the next 3 months and, with a 90% probability hold a price between $15.18 and $16.77 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.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
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, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $16.77 and $16.88. 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 7.92%. 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.
Support, Risk & Stop-loss for Barrick Gold stock
Barrick Gold finds support from accumulated volume at $17.08 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 $0.520 (3.09%) between high and low. For the last week, the stock has had daily average volatility of 2.08%.
Our recommended stop-loss: $16.58 (-4.14%) (This stock has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 30 days ago.)
Trading Expectations (GOLD) For The Upcoming Trading Day Of Friday 5th
For the upcoming trading day on Friday, 5th we expect Barrick Gold Corporation to open at $17.17, and during the day (based on 14 day Average True Range), to move between $16.85 and $17.75, which gives a possible trading interval of +/-$0.451 (+/-2.61%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 5.22% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $17.32 (0.12%) than the support at $17.08 (1.27%), 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, 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. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Buy candidate.
Current score: 3.591 Buy Candidate Upgraded
Predicted Opening Price for Barrick Gold Corporation of Friday, July 5, 2024
Fair opening price July 5, 2024 | Current price |
---|---|
$17.17 ( 0.771%) | $17.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for GOLD
Fibonacci Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 17.69 | 2.24% |
R2 | 17.49 | 1.09% |
R1 | 17.37 | 0.377% |
Price | 17.30 | |
S1 | 16.97 | -1.92% |
S2 | 16.85 | -2.63% |
S3 | 16.65 | -3.78% |
Accumulated Volume Support & Resistance Levels
Level | Price | |
---|---|---|
R3 | 17.86 | 3.24% |
R2 | 17.42 | 0.694% |
R1 | 17.32 | 0.116% |
Price | 17.30 | |
S1 | 17.08 | -1.27% |
S2 | 16.56 | -4.28% |
S3 | 16.48 | -4.74% |
GOLD Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | May 01, 2024 | May 31, 2024 | Jun 17, 2024 | $0.100 | 0.620% |
2 | Feb 28, 2024 | Feb 28, 2024 | Mar 15, 2024 | $0.100 | 0.635% |
3 | Nov 29, 2023 | Nov 29, 2023 | Dec 15, 2023 | $0.100 | 0.571% |
4 | Aug 08, 2023 | Aug 30, 2023 | Sep 15, 2023 | $0.100 | 0.601% |
5 | May 03, 2023 | May 30, 2023 | Jun 15, 2023 | $0.100 | 0.606% |
FAQ
Click here for our free guide on how to buy Barrick Gold Stock.