Barrick Gold Crosses Below its 10-day MA (ABX)
Today, shares of Barrick Gold (NYSE:ABX) have fallen below their 10-day MA of $19.72 on a volume of 6.7 million shares. This may provide swing traders with an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
In the past 52 weeks, Barrick Gold share prices have been bracketed by a low of $5.91 and a high of $21.40 and are now at $19.27, 226% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 2.1% while the 50-day MA has advanced 2.8%.
SmarTrend recommended that subscribers consider buying shares of Barrick Gold on June 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $18.62. Since that recommendation, shares of Barrick Gold have risen 8.0%. We continue to monitor ABX for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Barrick Gold