Barrick Gold Corporation engages in the exploration and development of mineral properties. It primarily explores for gold and copper deposits. The company holds a 50% interest in the Veladero mine located in the San Juan Province of Argentina; 50% interest in the KCGM, a gold mine located in Australia; 95% interest in Porgera, a gold mine located in Papua New Guinea; 50% interest in the Zaldivar, a copper mine located in Chile; and 50% interest in the Jabal Sayid, a copper mine located in Saudi Arabia. It also owns gold mines and exploration properties in Africa; and gold projects located in South America and North America. Barrick Gold Corporation was founded in 1983 and has corporate offices in Toronto, Canada.
Barrick Gold Corporation Stock Analysis
Technical stock analysis for Tue 26’th Jun 2018
Barrick Gold Corporation fell by -0.93% in the last day from $12.87 to $12.75 and has now fallen 3 days in a row. The price has been going up and down for this period, and there has been a -3.12% loss for the last 2 weeks. Volume has increased in the last day by 3.37 million shares, but on falling prices. This may be an early warning and the risk will be increased slightly for the next couple of days. In total, 9.18 million shares bought and sold for approximately $117.07 million.
Trend
Barrick Gold Corporation has broken the horizontal trend down. Breaks like this are often followed by swift and strong movements, and any correction down to the breakline at approximately $12.83 is considered to be a “second chance” to get out before further fall. It is, however, important to note that false breaks may appear and that the price may move back into the horizontal trend. A break on increasing volume is considered to be more significant and reliable than breaks on low volume.
Signals
There are few to none technical positive signals at the moment. Barrick Gold Corporation holds sales signals from both short- and long-term moving averages. In addition, there is a general sales signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up there will be some resistance from the lines at $12.86 and $13.13. A break-up above any of these levels will issue buy signals. A sales signal was issued from a pivot top point on Friday June 22, 2018, which indicates further falls until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Relative Strength Index (RSI)
RSI14 is 44 and the stock is currently not being overbought or oversold
Support & Resistance
Barrick Gold Corporation finds support from accumulated volume at $12.62.
Risk
This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $0.23 (1.83%) between high and low. For the last week, the stock has had a daily average volatility of 1.55%.
Our recommended stoploss: I hold a sell evaluation for this stock. No stop-loss set.
Overall risk: Low
Evaluation
Barrick Gold Corporation holds several negative signals and is within a falling trend, so I believe it will still perform weakly in the next couple of days or weeks. I therefore hold a negative evaluation of this stock.