In a welcome move, Barrick Gold saw its Relative Strength Rating rise from 63 to 77 on Wednesday before the open. Today however, the stock is falling as even defensive plays are failing.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary RS Rating identifies market leadership by showing how a stock's price movement over the last 52 weeks measures up against that of the other stocks in our database.
Over 100 years of market history reveals that the top-performing stocks tend to have an RS Rating north of 80 in the early stages of their moves. See if Barrick Gold can continue to show renewed price strength and clear that threshold.
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Barrick Gold is working on a cup without handle with a 20.29 buy point. It opened higher today, but has fallen back along with most of the market. See if it can reverse the fall and break through the pivot in volume at least 40% higher than normal.
Earnings Review
Barrick Gold reported negative growth for both the top and bottom lines last quarter.
Barrick Gold holds the No. 40 rank among its peers in the Mining-Gold/Silver/Gems industry group. AngloGold Ashanti ADR and Osisko Gold Royalties are also among the group's highest-rated stocks.
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