CFD Trading – Buy Recommendation For Barrick Gold Corp (GOLD.NYS)

Barrick Gold Corporation Stock Code GOLD.NYS

Price broke above the cloud on 9 April 2020 with a strong and big candle and rose to a high of $28.50 on 23 April 2020. Since that high, a price correction brought price down to $22.13, which was inside the cloud and close to the initial breakout point on 9 April.  Price broke above the cloud two days ago, hinting that the correction could be over and another bullish trend has started which could bring price to the previous high of $28.50.   Conversion and Base lines had a bullish crossover, confirming the bullish trend. Lagging Span is above price of 26 days ago and above the cloud as well, hinting of a strong bullish trend. MACD is bullish and had a bullish crossover, hinting of a bullish trend ahead. Both of MACD lines are above the zero line as well. We expected price to move higher to test the previous high at $28.50 and in the longer term we are expecting a higher high.

$26.00                Buy
$28.50                Price Target
$25.02                Risk Management Stop
3 weeks Trade Duration

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