Long
ABX, Long Setup
Barrick Gold Corp has been beaten down this year with gold turning to poison. I think this may be a good time to buy when others are fearful about the future of gold.
ABX has experienced Very Strong resistance around $12.50 for 15 years and is now bouncing off is newest lows from this summer. Based completely on previous chart pattern and my gold sentiment I predict that Barrick will be above $35 come summer of 2016.
Prediction: Current Price: 15.70 (12/4/2013)
Target Price: $35 (122% gain)
Stop Loss: $9.50 (40% loss)
ABX has experienced Very Strong resistance around $12.50 for 15 years and is now bouncing off is newest lows from this summer. Based completely on previous chart pattern and my gold sentiment I predict that Barrick will be above $35 come summer of 2016.
Prediction: Current Price: 15.70 (12/4/2013)
Target Price: $35 (122% gain)
Stop Loss: $9.50 (40% loss)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.