Barrick Gold Corporation weekly uptrend opportunity based On 1.00 Lot Calculation:
- Barrick Gold Corporation is a global gold and copper mining company with operations in 13 countries. In 2019 it produced 5.5 million ounces of gold at an all-inclusive cost of $894 per ounce and 432 million pounds of copper at an all-inclusive cost of $2.52 per pound.
- Barrick Gold finished 2020 with no debt and a very strong cash position. It expects to produce 4.4 to 4.7 million ounces of gold in 2021.
- Barrick Gold expects to produce over 400 million pounds of copper in 2021. Copper is an industrial metal. It is found in electrical wiring, motor parts, roofing, plumbing, and industrial machinery. Copper is presently trading close to an all-time high. Copper prices could continue to remain strong with the ongoing fiscal stimulus and economic recovery.
- STOCK PRICE ACTION: Barrick Gold is trading close to a one-year low.
Barrick Gold Corporation, (#Barrick) March 12, 2021
Current Price: 25.00
|
Barrick Gold |
Weekly |
|
Trend direction |
|
|
35.00 |
|
|
32.00 |
|
|
28.00 |
|
|
22.50 |
|
|
20.00 |
|
|
18.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
|
Barrick Gold |
||||||
|
Pivot Points |
||||||
|
Profit or loss in $** |
7,969.27 |
5,578.49 |
2,390.78 |
-1,992.32 |
-3,984.64 |
-5,578.49 |
|
Profit or loss in €** |
6,677.95 |
4,674.57 |
2,003.39 |
-1,669.49 |
-3,338.98 |
-4,674.57 |
|
Profit or loss in £** |
5,733.54 |
4,013.47 |
1,720.06 |
-1,433.38 |
-2,866.77 |
-4,013.47 |
|
Profit or loss in C$ |
10,000.00 |
7,000.00 |
3,000.00 |
-2,500.00 |
-5,000.00 |
-7,000.00 |
* 1.00 lot is equivalent of 1000 units
** Calculations for exchange rate used as of 12:52 (GMT) 12/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Senior Account Manager for more details