BARRICK GOLD CORP (ABX) Stock Technical Analysis
NYSE:ABX - New York Stock Exchange, Inc. - CA0679011084
Overall ABX gets a technical rating of 8 out of 10. Both in the recent history as in the last year, ABX has proven to be a steady performer, scoring decent points in every aspect analyzed.
The short term is neutral, but the long term trend is still positive. Not much to worry about for now.
In the last month ABX has a been trading in the 12.63 - 14.18 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
ABX has an average volume of 18727800 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that ABX is one of the better performing stocks in the market, outperforming 85% of all stocks. However, this overall performance is mostly based on the strong move around 4 months ago.
ABX is currently trading in the middle of its 52 week range. The S&P500 Index however is trading in the upper part of its 52 week range, so ABX is lagging the market slightly.
Besides having an excellent technical rating, ABX also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 13.56. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 13.49, a Stop Loss order could be placed below this zone.
More info and screens
12.30
14.26
We found 3 important support areas.
- A support zone ranging from 13.41 to 13.49. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- A support zone ranging from 12.74 to 13.19. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @12.42 from a horizontal line in the daily time frame.
When analyzing the resistance we notice 2 important areas.
- A resistance zone ranging from 13.56 to 13.69. This zone is formed by a combination of multiple trend lines in the weekly time frame.
- Resistance @14.12 from a horizontal line in the daily time frame.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for ABX is up. |
| ChartMill Short Term Trend Indicator | NEUTRAL | NEUTRAL | The short term trend for ABX is neutral. |
| ChartMill Relative Strength | 85.91 | POSITIVE | ABX has a high relative strength, it outperformed 85.91% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of ABX is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of ABX is above the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of ABX is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 52.48 | NEUTRAL | The RSI value for ABX is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests ABX has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 47.75 | NEUTRAL | The Stochastics value for ABX is a neutral value. |
| Average True Range in percent/ATR (20) | 3.65 | MEDIUM VOLATILITY | The ATR as a percentage value for ABX suggests some volalility. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 13.70 | 13.40 | 0.30 (2.19%) | 25.00% |
| An entry @13.70. This is a Buy Stop order right above the resistance zone. | An exit @13.40. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 0.30 points, which is 2.19%. | When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.55%. |
- The distance between exit and entry is rather small compared to the average daily movement of ABX. Please evaluate whether better entry and exit points can be found.
- The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
- This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
13.54
+0.42 (+3.2%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorN/A
GICS IndustryN/A
Performance
% Chg3.2%
1 Week3.2%
2 Weeks-0.88%
1 Month3.75%
3 Month18.05%
6 Month1.42%
12 Month-9.43%
2 YearN/A
3 YearN/A
5 YearN/A
10 YearN/A
15 YearN/A
Volatility
ATR(14)0.54
ATR(20)%3.65%
ATR Inc56.79%
Range Today0.9
ADR(20)N/A
ADR(20)%N/A
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS85.91
Mansfield1.73
10 Day High14.04
10 Day Low12.69
20 Day High14.18
20 Day Low12.64
52 Week High15.52
52 Week Low9.53
CS1 End13.49
CR1 Start13.56
Volume & EV
DER(3)-1.46%
DER(5)-2.25%
Volume22.73M
Volume Incr8.76%
Vol(5)21.36M
Vol(50)18.73M