ABX trade ideas
BULLISH CHARTS / INDICATORS - UPTREND, NEW CEO - STRONG BUY!BARRICK GOLD CORPORATION pulled back like we said in our initial post under ABX.
NOW...
Daily and Weekly Charts are BULLISH
On the weekly...
On Balance is trending up - BULLISH
Accum/Dist Trending Up - BULLISH
PPO Trending Up - BULLISH
Stochastic is starting to turn up - BULLISH
RSI is just under the center line getting ready to move above - BULLISH
MACD is turning up - BULLISH
GOLD today is now trading above $1,300 an ounce with our target between $1375 and $1500 an ounce moving forward. (3 to 12 months)
BARRICK should start to release positive news as they did today with the new CEO taking control of the company. (See news release today)
BUY at these low levels because we see BARRICK making new 52-WEEK highs soon!
WATCH FOR THE STOCK TO CLOSE ABOVE $13.00, IT SHOULD THEN MOVE HIGHER AND MAKE A NEW 52-WEEK HIGH
ABX daily bull flag setupKeeping an eye on ABX.TO tomorrow, we have a daily bullflag setup and currently consolidating on the 2hr chart in a Cup & Handle pattern. Bulls are looking to confirm the bull flag and want to do so one more than 1.4 million shares on the first hourly candle tomorrow - I want to see volume behind the breakout to confirm its real
