Investors in Barrick Gold Corp (NYSE:GOLD), the gold and copper miner, are closely monitoring a development occurring on the stock’s price chart, a technical indicator known as the Death Cross.
This bearish signal, a crossover of the 50-day moving average (yellow line above) moving below the 200-day moving average (blue line above), has traditionally been associated with potential downward trends in stock prices.
Over the past year, Barrick Gold’s stock has seen fluctuations that have closely aligned with the movements in spot gold prices. While spot gold has recovered from its October lows and is now trading with a more bullish momentum, the occurrence of a death cross on Barrick’s chart presents further uncertainty for shareholders.
Barrick Gold Stock Made A Death Cross
A death cross is interpreted as a sign of weakening momentum. It’s often viewed by technical analysts …
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