Barrick Gold stock falls as persistent selling keeps shares below long-term average

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Barrick Gold slides 3.43% to C$52.35

Highlights

ABX/CAD trades below all major moving averages, confirming sustained bearish momentum across short to long timeframes.
All main momentum oscillators register deeply oversold conditions, but a neutral ADX reading hints the downtrend may be stalling, not accelerating.
Shares closed at C$52.35 with a bearish gap; price is forecast to range between C$49.82 and C$54.88 over the next few days, with a high risk of further decline.

Deep oversold momentum as ADX hints at trend pause

On the technical front, ABX/CAD has fallen below the MA-20 (C$55.57) and MA-50 (C$57.49) on the hourly chart, and sits under the MA-200 (C$56.42) on the daily timeframe. The Ichimoku Kijun line at C$54.76 is currently acting as immediate resistance. Momentum indicators are weak: MACD signals Sell and ADX is Neutral, while RSI at 22.62, Stoch RSI, CCI, and BBP all point to deep oversold conditions with clear seller dominance intraday. The Awesome Oscillator remains Neutral and does not confirm a prevailing trend. The share price settled near its session low with a significant gap of 2.12 below the previous close, indicating a strong negative intraday tone. While major oscillators show extreme oversold readings, the absence of strong ADX trend strength suggests the ongoing downtrend may be pausing rather than intensifying.

Low rebound odds as volatility keeps direction unclear

Over the next 2 to 3 trading days, price action is expected to fluctuate within the C$49.82 to C$54.88 range—a volatility band relative to current levels. The probability of an upward move is assessed to be very low, while the likelihood of further downside remains high, making a rebound scenario far less likely. The baseline view is for ABX shares to remain indecisive inside this corridor. Should there be a move above the Kijun resistance, the upper boundary may be targeted, while further selling could lead to a decline below the C$49.82 support.

Viktoras Karapetjanc, expert at Traders Union, sees Barrick Gold stock under pressure, with key moving averages and oscillators showing seller dominance. He believes the absence of news and weak momentum make a bullish reversal unlikely in the near term. The range between C$49.82 and C$54.88 will likely define short-term action. "The odds favor more downside for ABX, and until we see a move above C$54.76, any rebound should be treated as corrective only."

Earlier, analysts noted that Barrick Gold was under sustained bearish momentum as technical indicators pointed to continued selling pressure. The current setup reinforces that view, with deeply oversold signals and a lack of bullish catalysts suggesting traders should monitor for renewed weakness below immediate support if volatility expands.

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

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.