ABX trade ideas
Barrick Gold Screams Value !Although Barrick Gold currently trades at its most attractive valuation since the end of 2015, but the company is in much stronger shape than it was 7 years ago.
Take a look at the following numbers:
Year 2015 2016 2017 2018 2019 2020 2021
Total Assets: 26.31B 25.68B 25.31B 22.63B 44.39B 46.51B 46.83B Tick Mark
Total Liabilities: 16.89B 14.99B 14.28B 13.25B 14.56B 14.80B 14.56B Tick Mark
Total Common Shares Outstanding: 1.17B 1.17B 1.17B 1.17B 1.17B 1.17B 1.17B Tick Mark (No shares dilution)
Based on above numbers I see a company with sharply declining costs and improving margins even in a weak gold price environment.
While the Market Cap is 25.091B, The EV is standing at 36.03B & Book value per share is at 13.39. It literally means if this company gets liquidated which I don’t think so, I will get my money back at 13.39 per share. Only Ali Baba has similar metrics. In short these metrics mean I'm buying this company for free and this shall be our bottom.
GOLD - Is ToppingWe think that there could be a lot of downside in the pipeline for Barrick Gold and here it has printed what appears to be a mini blow off top out of a bearish ascending channel.
Hitting the 0.5 retracement and gapping up through the 200DMA, this looks ripe for a reversal.
If dollar shows strength and also markets crash then this could have quite a big fall from here.
As always we are looking at this type of thing every day 👍🏻.
Not advice.
*GOLD - POSSIBLE BULL TREND*NYSE:GOLD
Daily chart: Price cross above SMA 200, bullish confirmation candles.
The pair has been trending upward on the daily chart .
Price is making higher highs and higher lows overall.
Price recently hit a top of resistance, which then quickly reversed, which than price rejected EMA21 to the upside.
Bearish candlestick formation starting to form.
Entry on third bullish candlestick pattern, price must bounce off EMA 21.
Exit: Exit when target is hit or stop loss is triggered
R/R: 1.1 - 1.4
TELL ME WHAT YOU THINK!
ALPHA1RESEARCH.COM
BRRICK = triangle SETUPBARRICK has been forming
this long term triangle for a long time.
over 10 years. when this mofo breaks out
expect a high move higher. a long run mofo run higher.
the longer price stays in a range, the bigger the breakout
will be.
the 2W chart shows a setup so strong.
get your long positions ready .
Double top on BarnesKind of shocked this company is still around AND $40 a share. Pretty perfect double top though. And a lot of good signals on other time frames
=)
Barrick: Hibernation 🐻Although Barrick is currently showing some upwards tendencies, we're expecting the course to drop further below the support line around $12.65 to finish the yellow wave (2) within the yellow target zone, before heading above the $12.65-mark to carry on with an upwards trend. If Barrick urges to surpass the resistance line at $26.07, our alternative scenario will be activated, which would push the course even higher above the $31.22-mark.
Caryon chart art, do we buy because Peter Schiff tells us to?Ascending broadening wedge yet apparently the bottoms are in!
Barrick Gold - a Steal at This LevelSome years ago, I was in between putting a big position on in SLV or GOLD (formerly ABX) at the $17 level. Both were equally priced. Barrick far outpaced SLV into the forthcoming rally and I regretted not buying it at $17. At $14 - 15 this week, I opened a long position. One thing I read and liked is that future Barrick dividends will include participatory profits. I hope the "profit sharing" concept (also in PXD) catches on. GOLD will rise as dividends increase.
B - Climb out of downtrend A downtrend within a large bullish megaphone in green
This downtrend is in yellow and I suspect a bottom will form and breakout. Leading to further continuation within the larger bullish structure
I have tried to plot potential price action in yellow also.
GOLD Anticipated Golden Cross 1 month chartGold recently had a bear cross and the price dropped a little bit, however each time the price goes up and down GOLD is closer to a golden cross which is an indication of a bull run.
GOLD: $8 by 2024Barrick Gold breaking down out of a rising wedge after being rejected off the 200M MA. If this is a 1:0.618 ABC correction, the target is: $7.78 which intersects with a high volume node on the volume profile. If this is a 1:1 ABC correction, then the target is $3.3, which does coincide with a long term 0.618 fib. Not a bullish outlook for the best inflation hedge imo.
GOLD near 12 month lows(GOLD) Barrick Gold is near it's 12 month lows. I find this to be a smart entry for a long position. Barrick Gold corp. is the world's largest mining company and has a $36B market cap, p/e ratio = 15 1/2 and a div/yield = 1 1/2. Do your own due diligence, your risk is 100% your responsibility. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Small incremental steps work : If you double a penny a day for a month it = $5,368,709. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, risk management
Beware of analysts motives
Emotions & Opinions
FOMO : bad timing
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
www.tradingview.com
GOLD - SHORT!Easy short. I entered above the LPSY once i sensed weakness. I'll exit near the bottom, but it's probably going lower :)
Wyckoff
Barrick: To the Beach ⛱The bears have grabbed Barrick and are dragging it along southwards to the warm and sandy beach strip between $11.97 and $6.32, which is seated picturesquely below the support at $12.65. Once there, though, there’s not too much time to relax but also work to be done: Barrick should finish the long-term corrective movement in the form of wave (2) in yellow. Afterwards, the bulls should take over so enthusiastically that the beach sand is swirled up and push Barrick northwards. However, there is a 35% chance that the bulls could intervene earlier already and shove Barrick above the resistance at $26.07, thus eliciting further ascent above the next mark at $31.22.
BARRICK GOLD - With Everything Selling whats Bullish?Today we take a look at Barrick GOLD #GOLD
Within our private community we have been recommending BARRICK GOLD as a Long term buy
Barrick GOLD is a mining company
Technically we LOVE what we are seeing... Where do we start
For starters we can clearly see a Bullish Head and Shoulders on the larger time Frame.
To double the BULLISH sentiment Barrick GOlD offered us a BULLISH BULL FLAG right at the base of the Neck Line of the Bullish H&S
Again... We have been POUNDING THE TABLE BUY on Barrick Gold at $20 and we continue to Scale into Barrick
We also have amazing Volume data with each Pull down to suggest the Bears or sellers have dried up.
Minimum Target on Barrick GOLD is back to $55 but we do see it make New All Time Highs (ATH)
However from $20 we see a easy 250-350% move over the months/years to come. We love this Stock!
Barrick Gold - Big Bearish Long Term Complete 180 view on Barrick Gold - See linked Idea
We closed out Barrick Gold back at $25 and we have a new different perspective.
Now we see it as a double top, head and shoulder with rising bearish wedge pattern as illustrated.
All structure are pointing downwards taking Barrick Gold (Mining Stock) down to $3.25-$4
There may be another attempt at $30 to make another double top within the rising wedge bearish structure but we have no indicator of that as of today which can develop later.
Macro view.. rather we retrace to 30 or not.. sub $5 over the next few years is looking like a very probable outcome.
Conventionally we would think of this as an indicator the rest of the market (equities/crypto) would be bullish. However not in this case, there will be continue sell offs.
Important ZoneWe are struggling around a zone that has been a battlezone for almost 30 years. The price comes back to this level since 1992! If we can consolidate here we have a good chance to make a bigger regain.
BIG PROBLEM BIG SHORTaccording to what is written in technical analysis books we have a very short pattern on gold :-(
Breakout with force the vwap-downtrendWe have here the breakout with force the vwap indicator so it's mean that we will have a downtrend.Thanks.
Analysis-downtrend-illustrationDowntrend after the breakout with force the vwap and the support line.Thanks.
AnalysisHi...! Here we are in a bullish channel situation. In addition, we are in an uptrend and we will not go against this trend and also we are above the vwap and this reinforces our bullish position. We could, however, have a continuation of this trend if and only if resistance is forcefully broken by a large green candle and followed by large green volume. On the other hand, for there to really be a reversal of the trend, the vwap as well as the support must be broken with force by a large red candle and accompanied by a large red volume. Thanks.
