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. >>6 Stocks Under $10 Triggering Major Breakouts Momentum adds some extra evidence for upside in Barrick. While 14-day RSI had been in a downtrend since the last swing high in ABX, the trendline broke at the start of July. It's still crucial to wait for price to take out the $16 level before putting money on this trade, but momentum provides some extra confidence when it does happen. Lest you think that the head and shoulders is too well known to be worth trading, the research suggests otherwise: a recent academic study conducted by the Federal Reserve Board of New York found that the results of 10,000 computer-simulated head-and-shoulders trades resulted in "profits that would have been both statistically and economically significant." After the breakout, I'd recommend keeping a stop loss under the right shoulder.