On Friday, Barrick Gold stock hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 80-plus percentile with an improvement to 82, up from 76 the day before.
When you're researching the best stocks to buy and watch, keep a close on eye on relative price strength.
IBD's proprietary rating measures share price action with a 1 (worst) to 99 (best) score. The rating shows how a stock's price behavior over the last 52 weeks compares to all the other stocks in our database.
Decades of market research reveals that the top-performing stocks typically have an RS Rating of over 80 as they begin their biggest price moves.
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Is Barrick Gold Stock A Buy?
Barrick Gold stock broke out earlier, but has fallen back below the prior 20.29 entry from a cup without handle. If a stock you're tracking clears a buy point then retreats 7% or more below the original entry price, it's considered a failed base. Wait for the stock to set up and breakout from a new base and entry price. Also understand that the most recent consolidation is a later-stage base, and such bases are more prone to failure.
The gold miner posted negative growth for both the top and bottom lines last quarter. Barrick Gold is expected to report its next quarterly numbers on or around May 3.
Barrick Gold stock holds the No. 33 rank among its peers in the Mining-Gold/Silver/Gems industry group. Alamos Gold and AngloGold Ashanti ADR are also among the group's highest-rated stocks.
