Sam Collins

Go for the Gold: Barrick Gold

    Tweet This

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 but fell through support at the conjunction of the 50- and 200-day moving averages.

Now, however, with inflation as a real possibility, ABX has responded with a buy signal from our internal indicator, the Collins-Bollinger Reversal (CBR) and the stochastic.

But to get a full new bull market move underway, it must break above the 50- and 200-day moving averages at $34. Buying now could yield a target of $50 but stop-loss orders should be placed at $25.

Get Sam Collins' Daily Trader's Alert e-mailed straight to your inbox each morning before the opening bell absolutely FREE!

In addition to getting instant access to his Trade of the Day, you'll also receive, in the same e-mail, his Daily Market Outlook so you can start your day off right by positioning yourself for profits!

Click here today to sign up today for Sam's FREE Daily Trader's Alert!

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.