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ABX, Long Setup
Barrick Gold Corp has been beaten down this year with gold turning to poison. I think this may be a good time to buy when others are fearful about the future of gold.
ABX has experienced Very Strong resistance around $12.50 for 15 years and is now bouncing off is newest lows from this summer. Based completely on previous chart pattern and my gold sentiment I predict that Barrick will be above $35 come summer of 2016.
Prediction: Current Price: 15.70 (12/4/2013)
Target Price: $35 (122% gain)
Stop Loss: $9.50 (40% loss)
ABX has experienced Very Strong resistance around $12.50 for 15 years and is now bouncing off is newest lows from this summer. Based completely on previous chart pattern and my gold sentiment I predict that Barrick will be above $35 come summer of 2016.
Prediction: Current Price: 15.70 (12/4/2013)
Target Price: $35 (122% gain)
Stop Loss: $9.50 (40% loss)
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