Monday, January 19, 2009

Barrick Gold (ABX) @ $41.95 CND

For you technical analysis people, I think I've found a GREAT case studies for a reverse head and shoulders formation.

Left shoulder: Late Sept early Oct
Head: Early Nov
Right Shoulder: Late Dec

Check out Barrick gold (ABX) and it's chart for the last 6 months. You can see the dramatic plunge in the stock price leading into Aug and recovery early Sept.

Don't forget that Gold is one of the sectors people go to in a "flight to quality" and is inversely related to the performance of equities in general.

Note: This stock has no rating. It is listed here for interest only as what happens here tells an interesting story about what's going on in the economy.

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