Barrick Gold Hit 'Gold Cross'

by Sam Collins   02/20/09
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Barrick Gold Corp. (ABX) -- This acquirer, explorer, and developer of gold properties and copper, silver, and zinc has pulled back from a recent high at over $40 where it is finding support at the conjunction of the 50- and 200-day moving averages.

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On Feb. 28, the 50-day moving average crossed above the 200-day moving average for a major new buy signal (gold cross) and a new Collins-Bollinger Reversal (CBR) buy signal with a target of $50.

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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.

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