On Wednesday, Barrick Gold reached an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 92, up from 89 the day before.
When looking for the best stocks to buy and watch, be sure to pay attention to relative price strength. IBD's proprietary rating identifies market leadership with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the trailing 52 weeks stacks up against all the other stocks in our database.
History reveals that the best-performing stocks tend to have an RS Rating of at least 80 in the early stages of their moves.
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Barrick Gold Stock is building a cup with handle with a 23.69 buy point. See if the stock can break out in volume at least 40% higher than normal.
Barrick Gold saw both earnings and sales growth rise last quarter. Earnings-per-share increased from -41% to 0%. Revenue rose from -20% to 1%.
Barrick Gold earns the No. 18 rank among its peers in the Mining-Gold/Silver/Gems industry group. Franco Nevada, Sibanye Gold ADR and Buenaventura Comp are among the top 5 highly rated stocks within the group.
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