Following these proceedings, CIBC downgraded its Barrick Gold Corp [GOLD] rating to a Neutral from a a Sector outperform in a research note published recently. A number of analysts have revised their coverage, including UBS’s analysts, who decreased its forecast for the stock in late October from “a Buy” to “a Neutral”. Argus also remained covering GOLD and has increased its forecast on August 29, 2024 with a “Buy” recommendation from previously “Hold” rating.
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Price Performance Review of GOLD
On Tuesday, Barrick Gold Corp [NYSE:GOLD] saw its stock jump 0.35% to $17.14. Over the last five days, the stock has lost -2.67%. Barrick Gold Corp shares have fallen nearly -5.25% since the year began. Nevertheless, the stocks have risen 2.08% over the past one year. While a 52-week high of $21.35 was reached on 10/21/24, a 52-week low of $13.76 was recorded on 02/14/24. SMA at 50 days reached $18.80, while 200 days put it at $17.93.
Levels Of Support And Resistance For GOLD Stock
The 24-hour chart illustrates a support level at 17.06, which if violated will result in even more drops to 16.97. On the upside, there is a resistance level at 17.29. A further resistance level may holdings at 17.43. The Relative Strength Index (RSI) on the 14-day chart is 40.36, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.48, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 69.09%. Stochastics %K at 22.22% indicates the stock is a holding.
How much short interest is there in Barrick Gold Corp?
A steep rise in short interest was recorded in Barrick Gold Corp stocks on 2024-11-29, growing by 2.52 million shares to a total of 20.4 million shares. Yahoo Finance data shows the prior-month short interest on 2024-10-31 was 17.88 million shares. There was a rise of 12.36%, which implies that there is a positive sentiment for the stock.
