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Barrick Gold Set to Possibly Pullback After Yesterday's Rally of 2.83%

By Amy Schwartz

Barrick Gold (NYSE:ABX) traded in a range yesterday that spanned from a low of $16.07 to a high of $16.41. Yesterday, the shares gained 2.8%, which took the trading range above the 3-day high of $16.36 on volume of 7.6 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Barrick Gold on August 24th, 2016 by issuing a Downtrend alert when the shares were trading at $18.89. Since that call, shares of Barrick Gold have fallen 15.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Barrick Gold share prices have moved between a 52-week high of $23.47 and a 52-week low of $5.91 and are now trading 177% above that low price at $16.38 per share. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.8% while the 200-day MA has risen 2.1%.

Keywords: rebounders Barrick Gold

Ticker(s): ABX