Barrick Mining, the decline slows in the 34 area
Barrick Mining rebounds 6.2% off the double bottom, but the trend loses conviction
Barrick Mining, the decline slows in the 34 area
Our view last week
Barrick Mining shares shed another 4.8% this week, with the daily chart redrawing a fresh double bottom in the 34 area and a 10% intermediate rebound. The Sell signal is in its fourth week and signal strength climbs to 65 out of 100: a downtrend making lower lows, pace holding. Weekly technical analysis flags elevated volatility and an ongoing distribution phase; the short is already more than 6% in profit.
This week's summary
Barrick Mining rebounds 6.2% and redraws a double bottom in the 34 area, after last week's decline had already sketched the same pattern. The bounce comes on 75% buy-side volume, with money flow turning positive for the first time in three weeks. Weekly RSI recovers, but ADX slips and momentum stays negative: the decline is slowing, not over yet.
IQS Phase
68
in tension
Signal Strength
21
decline losing steam
Sizing
MINIMUM
Ranking
#105 / 141
US stocks
Trade P&L %
+0.48%
from signal to today
Rank position
ranks 105th among the 141 sell signals for US stocks in our ranking, with a signal strength of 21 out of 100.
Sector context
SectorMaterials
Benchmark ETFXLB
Sector regimein positive regime
Performanceweekly +1.44% · monthly +0.20%
B belongs to the materials sector (reference ETF XLB). The sector is classified in positive regime according to our weekly reading.
restricted Platinum content