Barrick Gold (GOLD): Up 33%—Time to Take Profits?

17 Eyl

What a rise by Barrick Gold since we bought some shares at the end of February 2024. Patience pays off most of the time, and so it has with Barrick Gold. We are now up over 33% with this stock, and we’re very happy with this last-second entry before the stock took off. Gold continues to rise, and Barrick Gold is following suit. However, after every rise, a setback—whether major or minor—will happen sooner or later, and we’re definitely not getting greedy here.

We’re going to take our first profit now and move our stop loss to break even. If we decide to reenter with a second position, we’ll let you know with a new limit.

For now, we’re just enjoying this setup and the profit. Let’s keep this going 🔥

8 Kas

İşlem aktif

Great profit taking here on GOLD because after our take profit the stock fell over 11% ✅
There was no setup we have identified in the meantime and therefore it is just our first entry running risk free with the stop loss at break even and with profits taken.

The RSI is nearly oversold again and out of the last 4 times 3 times there was a bigger bounce after that. We still expect way more upside but if you have read the analysis on Gold XAUUSD you know that we do expect some downside of Gold and therefore also Barrick Gold should not be able to rise as a Gold mining company.

We are happy with the position like it is and we are going to see if we can identify another entry on another Gold mining stock in the next analysis on Wheaton Precious Metal.