Barrick Gold $ABX is Weak on a Near Term Basis, Shown in Charts and Graphs
Barrick Gold (NYSE: ABX) is Weak on a Near Term Basis, as Shown in the Charts and Graphs below. Important: check the date of this news release and update the report if needed. The data changes over time.
Review the Trading Plans:
Long Term Trading Plans for ABX
June 5, 2018, 5:40 pm ET
The technical Summary and associated Trading Plans for ABX listed below will help you make important timing decisions for your trades. This data is based on our proprietary analysis for ABX. In addition we offer Market Timing Models and Stock Filters in the links above which may increase the proficiency of the decisions you make.
ABX - (Long) Support Plan
Buy over 12.22 target 14.08 stop loss @ 11.96.
The technical summary data tells us to buy ABX near 12.22 with an upside target of 14.08. This data also tells us to set a stop loss @ 11.96 to protect against excessive loss in case the stock begins to move against the trade. 12.22 is the first level of support below 13.07 , and by rule, any test of support is a buy signal. In this case, support 12.22 is being tested, a buy signal would exist.
ABX - (Short) Resistance Plan
Short under 14.08 target 12.22 stop loss @ 14.34
The technical summary data is suggesting a short of ABX as it gets near 14.08 with a downside target of 12.22. We should have a stop loss in place at 14.34 though. 14.08 is the first level of resistance above 13.07, and by rule, any test of resistance is a short signal. In this case, if resistance 14.08 is being tested, a short signal would exist.