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Barrick Gold Corporation (GOLD) “On a long-term technical basis, the stock (GOLD) is trading above its 200-day moving average which implies it is in a positive trend.
The stock has support at 22.57 and 20.41. If the stock breaks down through support at 22.57 then it will probably continue lower to 20.41. The stock will meet resistance at 28.50 and 31.03. If the stock breaks up through resistance at 28.50 then it will probably continue higher to 31.03. The 200-day moving average is at 18.32. This will also act as support. The stock is extremely overbought according to the Stochastic Indicator (92.42), so look for a possible pullback soon. Confirm this with the Short-Term and Daily Opinion to keep from exiting prematurely.”
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