ABX Stock On the Run
Barrick Gold Corp ABX is a new find for me while doing a scan just this past Friday, and the heavy accumulation day it yielded can simply not be overlooked.
ABX stock is now on the rise and I want you to be a part of it. I am giving the stock a few weeks to settle out and let the 50 day moving average establish its uptrend, then looking for the next base. Buying on weakness could offer opportunity as well.
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Alongside an uptrending 50 MA watch out for resistance at the 2nd line shown above which is where the gap range from the November 12th sell off begins. Patience is the key with ABX moving forward.
For those wondering, ABX is all about international gold and copper mining with operations in Peru, Canada, the US, Chile, amongst several other countries. The company has a market cap of $37.25 Billion as of the close Friday. As of that close the stock sits at $42.88. I think ABX has the potential to hit $50 before the end of February.
