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:
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 Tuesday trading.
(Updated on Jun 25, 2024)
The Barrick Gold stock price fell by -0.778% on the last day (Tuesday, 25th Jun 2024) from $16.72 to $16.59. During the last trading day the stock fluctuated 1.72% from a day low at $16.51 to a day high of $16.79. The price has been going up and down for this period, and there has been a 0.85% gain for the last 2 weeks. Volume has increased on the last day by 279 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 13 million shares were bought and sold for approximately $223.30 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -2.86% during the next 3 months and, with a 90% probability hold a price between $15.52 and $17.21 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.
GOLD Signals & Forecast
There are mixed signals in the stock today. The Barrick Gold stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $16.89. On a fall, the stock will find some support from the short-term average at $16.49. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely. A buy signal was issued from a pivot bottom point on Friday, June 14, 2024, and so far it has risen 3.49%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Barrick Gold stock
Barrick Gold finds support from accumulated volume at $16.48 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 $0.285 between high and low, or 1.72%. For the last week, the stock has had daily average volatility of 2.67%.
Our recommended stop-loss: $15.81 (-4.70%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (GOLD) For The Upcoming Trading Day Of Wednesday 26th
For the upcoming trading day on Wednesday, 26th we expect Barrick Gold Corporation to open at $16.63, and during the day (based on 14 day Average True Range), to move between $16.13 and $17.05, which gives a possible trading interval of +/-$0.464 (+/-2.80%) up or down from last closing price. If Barrick Gold Corporation takes out the full calculated possible swing range there will be an estimated 5.59% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $16.64 (0.30%) than the support at $16.48 (0.66%), 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?
Barrick Gold holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.646 Hold/Accumulate Upgraded
Predicted Opening Price for Barrick Gold Corporation of Wednesday, June 26, 2024
| Fair opening price June 26, 2024 | Current price |
|---|---|
| $16.63 ( 0.230%) | $16.59 |
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 | 16.91 | 1.95% |
| R2 | 16.80 | 1.29% |
| R1 | 16.74 | 0.89% |
| Price | 16.59 | |
| S1 | 16.52 | -0.425% |
| S2 | 16.45 | -0.83% |
| S3 | 16.34 | -1.49% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 17.86 | 7.66% |
| R2 | 17.42 | 5.00% |
| R1 | 16.64 | 0.301% |
| Price | 16.59 | |
| S1 | 16.48 | -0.663% |
| S2 | 16.36 | -1.39% |
| S3 | 16.15 | -2.65% |
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.
