ABX trade ideas
Gold to re-test all time highsWith the uncertainty of the economy due to the covid-19 pandemic, #gold should keep rising and at least test it's all time highs.
GoldIn the middle of a channel for the month. Gold always does well in a bad economy, I am going to wait until its at the lower end and hold. If you look at the 25 year chart it is very undervalued due to unemployment levels, housing, and market growth.
GOLD (As in BARRICK GOLD) - A double in two years?The horizontal support\resistance around 22.50 seems to have great significance to Barrick Gold. Last time it consolidated below it for roughly 8 years was between 1997 and 2005, then it broke out, backtested 22.50 twice (black arrow marker), and went on to more than double in less tha 3 years (May '05 to March' 08). Not a bad trade for someone who doesn't want to speculate on small exploration stocks, and prefers a solid big producer. Today Barrick is even bigger, with the acquisition of Randgold Resources among other things, and it JUST broke out from 22.50 after a 7 year consolidation. Backtest is in the books (yellow arrow marker), and if it stays inside of the BLACK rising channel, it can hit all time highs at 55.65 as early as June 2022. Even if it were to take longer to get there, it would still be a double from today's price. Note how the 100 weekly EMA (yellow) is a good indicator of the overall longer trend, and now it's pointing decisively upward.
I see a possible resistance zone around 31.70, which I believe will give way sooner or later, but could require some consolidation. I also believe that ATH will be taken out during the course of this precious metals bull, but let's get back there for now and then reasses.
Full disclosure: long Barrick Gold at 1% of total assets, and looking to increase exposure on weakness. For those trading on the Toronto Stock Exchange, the ticker symbol is still ABX.
Simple Analysis (GOLD) the market was in a range, then it strongly broke the resistance and came back to do a PULL BACK. The yellow line is a VERY IMPORTANT support / resistance for this market, after its breakout the market can easily reach 43.
BARRICK GOLD CORP with a great BUYHey my MoneyTraders,
price is testing a very strong resistance and currently trying to break through.
The current strong trend looks parabolic and resistance seems to loose the success rate.
The next breakout will give us a great opportunity to follow the trend.
LEAVE A LIKE AND A COMMENT to support my work. :-)
Peace
Get rich or die trading
Barrick Gold longHere is an easy ta for GOLD long:
Barrick Gold is consoladtion mode after strong rally. Now, bulls are trying to break through 28 $ ATH resistance.
On the right side you can see GOLD Future, that breaked through 18 $ resistance with high volume.
Both compared could be play on Gold long.:
S3 is showing bullish rally, S2 and S1 are forming trendlines for secondary up-trend.
Furthermore, you can see two important support zones: 23 $ and 26 $ which support secondary up-trend.
Indicators:
BB: Trend is moving above upper band which is normal trying to break resistance, bullish signal (Or overbought)
50 SMA: Trend is moving abvoe, bullish signal
20 SMA: Trend is moving above, bullish signal
200 SMA: Trend is wide moving above, bullish signal
RSI: Crossing under 80, bullish signal
MACD: Crossing, tendency up, bullish signal
1. Wait for breaking resistance and buy in around 29 $, SL set on support zones
2.Option play: Bull put, Strikes around support zones. short time
Good luck for your trading :)
Barrick Gold goo start to impulseBarrick Gold looking bullish and continuing to move upwards. Looks like close to a wave 3 right now.
#GOLD - 1H - 19.07.2020BEAUTILF ascending channel. Mr. Ichimoku is telling us that maybe tomorrow we will have a long position signal. Target = 28.30 USD.
HUGE challege at 28.34 USD resistance.
Barrick Gold CorpGOLD has formed an inverse head and shoulders pattern, a break above the neckline will signify more upside.
#goldGRAN reunion de traders gracias a todos fue excelente la participación ... analizamos mas de 20 activos $bma #gold $txar $come #ko $sami #nvda #ba #x #wti #hmi $mori $ypf $teco $ceco $trans $byma $dgcu $auy $ggal $merval $imv planeta trading by Versa
GOLD, another stock starting correctionwe saw that 28.45 price was imposible to break for the stock and we see that the correction is starting.
Idea developed by tercermundo team from argentina
Don’t seek exposure to gold via gold miners’ stocks!Here’s a Thought! 9 July, 2020, by Vladimir Rojankovski, Chief Analyst, Grand Capital
Stocks of gold miners have been performing very differently. Thus, Wheaton Precious Metals stock (WPM) has increased by over 43% so far in 2020, while close rival Barrick Gold stock (GOLD) has increased 37% in 2020 so far. However, Agnico Eagle Mines (AEM) barely changed year-on-date adding just 5%. What is going on?
Barrick Gold’s revenue increased by 13.5% from $8.6 billion in 2016 to $9.7 billion 2019 while WPM’s revenue saw a marginal decline of 3.4% during this period. But this rise in the former’s revenue came in 2019 due to the acquisition of Randgold Resources. As the same time, it rival’s net income margins have consistently been higher than Barrick’s. In 2019, WPM reported an adjusted net income margin of 29% compared to GOLD’s margin of close to 9%.
Conclusion: don’t seek exposure to gold via gold miners’ stocks!
Keep On Watch ListIf we get a golden cross on the monthly this summer Barrick Gold could potentially make quite a few people rich. It's not unusual for companies in this dollar range to have massive percentage gains.
BARRICK GOLD CORPORATION: retracement + impulse Hello traders!
In this trade I expect this stock to drop a little before going up. In fact, the MACD is showing that the momentum is getting weaker but I am confident that the drop will not last much because of the current situation in the market.
Remember that gold is a safe asset!
The targets are placed in correspondence of possible stock resistances
Remember to put a stop loss in order to secure your capital!
Not a financial advice.
Enjoy your trade!
