Barrick Gold ( ABX) is another name that looks "bottomy" right now.
With gold prices unceremoniously falling off a cliff in 2013, $16 billion mining firm Barrick has found itself in the unenviable position of being the proxy for all mining stocks. That's helped to halve the value of the company's shares year-to-date. Like PRB, though, an inverse head and shoulders reversal looks like it's taking shape in Barrick. The $16 level needs to get definitively taken out for this setup to trigger - right now, shares are merely flirting with it.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV