Looking for the second act on Barrick
Popular company in gold mines. go short or put option and the dashed line is SL.
This one has historically shown clearer wave count to me. Now it seems like it is in the final stage of a big correction. Even though I don't think it will touch the $12.61 0.618 line. I think it worth a try.
Back in December I bought my first shares of a gold mining company, ABX. For much of 2017, it was on a deep downward trend but being one of the largest mining companies in the world and the shares were cheap, I thought what the hell, let's see if she has any life left in her for the long term. Since the beginning of the year it appears to me that ABX has now...
$ABX Barrick Gold premarket daily chart sitting on horizontal support with MACD curled up. #Gold $GLD #swingtrading
Following up on my recent, gold and gold mining sector analysis, i am seeing in newmont mining one of my favorit gold mining stocks. From a technical perspective the bias is clearly bullish. Also fundamentally this stock is a top sector pick, they are providing strong earnings and are in good shape. I am looking to buy, but current levels seem expensive, another...
Nice setup, big picture we are forming a big triangular trend continuation structure. Shortterm looking for the gap close. Notice the high volume breakout of the red wedge, and now the blue flag is a strong buy setup. Blessings to you.
Strong volume on the weekly as well as a break above a recent trend line. Start of new strong uptrend forming
$RGLD is a royalty company that invests, acquires and manage precious metals royalties and streams. The very strong technical chart suggests it's an ideal play to capture upside in gold while keeping risk low. Their margins are typically much larger than explorers and producers, which allows them to thrive even during gold bear markets, which explains the...
Thx @curiousbuild : you said about $XGD.TO. I did some research $XGD.TO and $ABX.TO. Now I'm very bullish on ABX and gold miners as well. At least touching magic point !!
Strong support is here!! First Target $21 !!!
All Fibonacci levels are completed. Breakout from wedge expected any day. Hedge your position vs overpriced indices SPY DJIA
ABX completed both fibonacci retracement. EMA Crossing gives long signal.
Buy Barrick Gold -1.98% at monthly demand around 8.20. Upper monthly demand zone has been tested, expecting bigger penetration and/or removal. Shorts until monthly demand is reached.
If this is correct, we need to see immediate price action.
I know most people are leaning bearish on gold, and for good reason.But I'm not convinced yet. It will be interesting to see if the price gets wedged over heavy resistance by the uptrend line, or fall through. Whichever way it goes there should be some good momentum and trading opportunities.
Better a weekly swing first and excitement later
$ABX is a great buy at this level. Been bullish since the start of the year. Had a retrace so its a perfect buy. Stock is oversold. Also crossed the 200 SMA. Long!