Barrick Gold: Gearing Up for Next Bull RunBarrick is one of those seniors that is notoriously heavy in short interest until a true bull run starts, and we may be around the corner from the second, and the second "real" bull run for Gold (for this year).
For now, it seems like the 1450 floor has held. For those who wish to "risk" waiting for a further drop in Gold, you may time yourself out of the market completely, only to _potentially_ save an additional 3-4% in stocks. In my opinion, the bottom for Goldspot is in the books.
RSI has created a solid and supportive base-line and the downtrend for many Gold stocks has either reversed already, or on the verge of reversal despite Goldspot being still far below 1500.
Barrick is extremely undervalued, and with their future acquisitions, recent dividend increase and excellent numbers, this stock should be trading in the $45-50.00 range at current Gold prices.
SL: $20.23
TP Q2 2020: $45-50
Strong Buy
- zSplit
