ABR trade ideas
BARRICK GOLD CORPORATION 1D CBOEthere is also a I H&S formation inside the general confines of the cup and handle
BARRICK FINALLY TURNS AROUND! SOLID EARNINGS! STRONG BUYROCK SOLID EARNINGS REPORTED THIS MORNING
Barrick Gold (GOLD) came out with quarterly earnings of $0.17 per share, beating the Zacks Consensus Estimate of $0.14 per share. This compares to earnings of $0.06 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of 21.43%. A quarter ago, it was expected that this gold and copper mining company would post earnings of $0.10 per share when it actually produced earnings of $0.15, delivering a surprise of 50%.
Over the last four quarters, the company has surpassed consensus EPS estimates three times.
Barrick Gold, which belongs to the Zacks Mining - Gold industry, posted revenues of $2.88 billion for the quarter ended December 2019, surpassing the Zacks Consensus Estimate by 0.84%. This compares to year-ago revenues of $1.90 billion. The company has topped consensus revenue estimates two times over the last four quarters.
Great Job Mark Bristow, CEO
$GOLD Barrick Gold Bullish into earnings
Bullish formation, ready for move higher
Inverse Head & Shoulders on daily
Cup and Handle on weekly
Company profile
Barrick Gold Corp. engages in the production and sale of gold and copper, as well as related activities such as exploration and mine development. It operates through the following segments: Barrick Nevada, Veladero, Pueblo Viejo, Lagunas Norte, Turquoise Ridge, Acacia, and Pascua-Lama. The company was founded by Peter D. Munk in 1983 and is headquartered in Toronto, Canada.
Gold (Barrick) before rising 92%.Gold (Barrick) before rising 92%. The exchange rate appears to be moving in an accumulation area. Technically, the figure shows that the correction lower levels doubled in percentage (yellow rectangle). It can also be seen that the fractal rising wave sequence (green rectangle) also doubles. Conclusion. We have an accumulation phase, we have a doubling correction and we have a doubling wave sequence. The next wave sequence may be a rising wave again, three times its original size. As a result, the target price for further rise of the exchange rate is 33.50usd
Market Review - Monday, 27 January 2020MCD, GOLD, BMY, ETR, AZN, BHP, BMY, CAG, CI, CL, DTE, GWW, HUM, K, L, NKE, RIO, Y, TJX
GOLDEN CROSS - 50 DAY MA CROSSING 100 DAY MA - BULLISHWe do not play gold stocks. So here's a tip for everyone.
Today, Barrick popped up on one of the scans we run.
On the daily chart, the 50 Day MA is crossing up and over the 100 Day MA.
PMO, MACD, RSI and Stochastic are all BULLISH - (In an uptrend)
For anyone interested, here you go!
Best of luck with your trades!
Market Review - Monday, 13 January 2020ETR, BMY, MCD, GOLD, AZN, CAG, CPB, KR, L, LMT, NEM, NOC, Y, RTN
Market Review - Monday, 06 January 2020AEP, AZN, AZO, BHP, BMY, CAG, CPB, CVS, ES, ETR, GPC, HRL, HUM, K, KMB, MMC, OMC, RIO, SO, SYY, TGT, TSN, VMC, WEC
GOLD LONG METALS UP 2020GOLD IS A METAL AND ALL SIGNS AND PREDICTIONS ARE THE GOLD AND OTHER METALS WILL GO UP IN 2020. STRONG BUY SIGNALS, GREEN CANDLES
BE CAREFUL EARNINGS FEB 14
GOLD $GOLD Trend Line Practice Been seeing lots of stuff on Twitter bout Gold GDX metals. I like the metals. Easy focus list. Metals Commodity. Etc. Obviously not studying my online training material if you happen to see this. Highly doubtful but will hit the material tomorrow. Happy New Year. Feeling much better!
NYSE:GOLD
$GOLD formerly #ABX fib and bullish DW$GOLD ending a descending wedge. Quite tight, but you can see a completed five waves, and we are right on a 61.8% fib, or a closer 50% fib. I suggest waiting for one more touch of the 61.8% with a stop under the other one for a 7.8:1 trade.
I wish they would remove that ticker GOLD it plays hell with the CFD market. I thought when Randgold was bought it would disappear.
Is Gold Quietly Gearing up for a Run? Technicals Say Yes!One of the best ways to forecast Gold is looking at the senior stocks. Why? Senior stocks are the most highly short interest stocks in the precious metal sector and they never consistently rise until a Gold run is near.
I believe what we are seeing now is the "true" bull run for Gold in-the-making, and eventually Silver and Platinum will follow (Platinum will be the slowest of the 3). Gold bottomed at 1450, and in my opinion, is exactly where Gold should have been. The US-China trade war from much of 2019 is what pushed Gold exceptionally higher as a result of extreme uncertainty.
While the "deal" serves little purpose and will do nothing to revive economic numbers anywhere in the world, what it has done is essentially confirmed a bit of a "lets start over" type of mentality because Trump had the option of giving-in or escalating the trade war and allowing the market to plummet. Obviously, he chose the former.
In reality, Gold will quietly begin to run up - moreso in 2020. While most people will continue to short Gold as they think a USA/China trade deal will send it plummeting, the reality is, most logical investors know what we will see is a likely continuation of a blow-off top for the remaining of December, with a likely short in Q1 2020.
Contrary to popular belief, yields rising at this point no longer will push precious metals down. This was relevant during the height of the USA/China trade-war, however, yields will inevitably rise whenever the next recession occurs as investors lose faith in governmental treasuries.
Moreover, Powell stated rates will remain unchanged in 2020. As usual, the Federal Reserves job is to remain artificially optimistic and 'lie' to the public to mitigate any fear. In reality, Powell will likely cut 2 or 3 times in 2020 with, in my opinion, the first cut coming in March or April of 2020, a second late in the summer, and potentially a third later in 2020 depending on the probability of Trump winning or losing and how the market prices in uncertainty. Remember, central banks do not forecast recessions. They react to them.
The time to slowly add precious metals is now as by the time 2020 comes, you may have timed yourself out of the market.
Expect Barrick to continue to push higher off the 180 sinusoidal pivot set back in early November.
- zSplit
BARRICK LONGS PT2Here we have a better view of what's taking place in the channel, it successfully retested the trendline of the previous downtrend, this year and continued to make strides upward. The new channel I have marked up shows that it has not broken any rules in the Elliot Wave principle.
BARRICK LONGSAs the fears of a global economic slowdown reach further in the hearts of hedge funds, banks and other financial instituitions it only make sense to gauge how these emotions fare on one of the largest mining companies in the world. After hitting record lows in 2015, it has steadily fought back. It has formed a higher low which gives us some indication that a higher high may follow.
