Stock Analysis: Today’s Top Swing Trade Idea for next week is Barrick Gold Corporation (GOLD).
Trade Details: As of Monday, August 19, 2024, Barrick Gold Corporation (GOLD) closed at $20.21. On the monthly chart, GOLD is in a consistent uptrend, forming higher highs and higher lows. The stock is currently approaching a major resistance level, trading within a rising wedge pattern. Last month, it tested the monthly support (demand zone), and now, with the price testing the monthly trendline at $20, we’re planning a bullish swing trade in the coming weeks.
Note: If the price closes below $13, this bullish setup will be invalid.
Buy Swing Trade Idea:-
Buy Entry Range: $20-$17
Stop Loss: $15.30
Target: $24
Today’s Top Swing Trade Idea for next week is Barrick Gold Corporation (GOLD).
Note: Always remember: risk no more than 1% per trade.” Keep trailing your stop loss to secure bigger profits.
Please note this is only an opinion and not financial advice.
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