Barrick Gold Hits “Gold Cross”
02/23/2009 10:48 am EST
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.
On February 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.
By Sam Collins of OptionsZone.com