Today we'll analyze the Stock ABX for online market trading,
Technical indicators to notice:
1- Last bearish trend was from 44.11$ (04/09/08) to 42.69$ (04/11/08) a 1.42$ move
2- The current bullish trend started from 42.69$ at 04/11/08 and is currently trading at 46.04$.
3- According to ADX, the trend is currently bullish,which is becoming weaker.
Short term chart patterns :
4- The Stock formed a 3.59$ height triangle which was broken up at 46.04 in higher than usual volume, target of the pattern is 49.63.
Mid term chart patterns :
5- The Stock formed Double Bottom Pattern at 41.92.
6- The Stock formed a 11.37$ height triangle which was broken up at 45.08, target of the pattern is 56.45.
Long term chart patterns :
7- The Stock formed Double Top Pattern at 53.55.
Conclusion:
ABX was trading in a bullish wave, which is becoming weaker .
Technical indicators and chart patterns show bullish direction,
recommend stopping short positions or entering long position or bullish spread options strategy .
Resistance Levels: 49.63, 53.52, 56.45.
Support Levels: 45.25, 44.76, 44.36, 43.97, 43.41, 42.69, 42.51, 41.92, 41.88, 29.41, 29.21, 29.01, 28.80, 28.14, 28.11, 28.10, 28.09, 27.99, 27.96, 27.94, 27.90, 27.65, 25.47, 19.59, 19.53, 18.77, 18.68, 16.11, 14.98, 14.86, 14.51, 14.23, 14.19,.
Friday, April 18, 2008
Barrick Gold Corporation (ABX) Technical Analysis
That's all for today ... thanks for reading the post,
come back soon for more updates,
use the search to lookup for more interesting stocks you might be interested in,
feel free to leave your comments on the post, or contact me
enjoy your online market trading!!
have a nice day,
Shadi
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