Barrick Gold shares jump as stock buying pressure builds

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Barrick gold rises 3.16% today

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Sholanke Dele

55 min ago

Barrick Gold shares jump as stock buying pressure builds — Barrick gold rises 3.16% today

Barrick Gold Corporation (ABX) trades near C$60.05, standing above the 20-day (C$58.35), 50-day (C$56.97), and 200-day (C$55.02) moving averages. The current price action highlights an intact short-, medium-, and long-term bullish structure.

ABX price prediction

24H -1.91%

CA$ 58.07

48H -2.58%

CA$ 57.67

7D -2.2%

CA$ 57.9

1M 4.51%

CA$ 61.87

3M 10.73%

CA$ 65.55

6M 74.51%

CA$ 103.31

12M 98.18%

CA$ 117.32

Detailed

Current price: CA$ 59.2 0.9900 1.70%

Real-time Data 10:58

Daily range 58.76

60.13

Weekly range 56.28

59.78

Highlights

Barrick Gold maintains a strong uptrend, trading above key moving averages with persistent buyer dominance.
Momentum indicators are bullish but several oscillators signal overbought, suggesting near-term upside may be stretched.
Projected five-day range is C$58.05–C$62.09, with high probability of further gains if resistance at C$62.09 breaks.

Anton Kharitonov, expert at Traders Union, views Barrick Gold’s current technical structure as robust but notes overstretched short-term momentum. He emphasizes the lack of relevant news as a risk factor and points to overbought signals across several oscillators. Volatility remains elevated, and repeated intraday highs create room for a sudden reversal. Kharitonov warns that if support at C$58.05 gives way, a quick pullback could follow. He states, "Participants should be cautious — with momentum stretched and news absent, a correction is only a trigger away."

Viktoras Karapetjanc, expert at Traders Union, highlights the strong bullish structure in Barrick Gold as the price holds firmly above key moving averages. He sees the present market tone as highly constructive, with buyers clearly dominating and multiple technical signals aligning. Despite the absence of news, he maintains a positive outlook based on the firm uptrend and supporting indicators across timeframes. Karapetjanc comments, "With strong technical alignment and sustained momentum, Barrick Gold continues to present notable upside opportunities in the near term."

Parshwa Turakhiya, analyst, notes that sentiment remains broadly bullish for Barrick Gold with rising prices and positive intraday flows. He observes that the ongoing upward push has been met with increasing volatility and that short-term oscillators point to overbought conditions, hinting at a possible pause. Turakhiya believes short-term traders should prepare for sharp moves as price nears resistance around C$60.50. He adds, "In my view, this is a momentum-driven setup where quick entries and disciplined exits are key for active participants."

Rising buyer strength as oscillators flag overbought conditions

The nearest dynamic support is found at the Ichimoku Kijun level of C$58.53, with resistance likely around the round level near C$60.50 or the 50-day moving average below. Momentum signals are moderately bullish: the Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI) indicate strengthening momentum, yet the Average Directional Index (ADX) remains neutral on the daily timeframe. Both the Stochastic RSI and Commodity Channel Index (CCI) register neutral overall, but many intraday timeframes are signaling overbought. Bull/Bear Power (BBP) points to clear dominance by buyers, with a pronounced overbought signal in multiple timeframes. The Awesome Oscillator (AO) is also in the buyer’s camp, supporting the bullish tone. The stock has gained C$1.84 or 3.16% so far, opening with an upside gap of about C$0.53 and currently trading near its daily high. Intraday volatility stands at 1.23%. Early session trading shows persistent strength toward the highs, matching the momentum backdrop, though several oscillators are flashing overbought conditions, suggesting a stretched short-term setup.

Earlier, analysts noted that Barrick Gold maintained a broadly bullish technical posture despite mixed momentum signals and short-term volatility. With new highs being tested and buyer dominance persisting across multiple timeframes, traders should monitor for a decisive push beyond C$62.09 as a potential catalyst for further upside momentum.

Source of Data: ABX Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.