Strength in gold prices and gain from unwinding its hedges to act as boosters for Barrick Gold Corp (ABX)

Commodity proxy Strategy for Barrick Gold Corp (ABX)
Close – $38.0
Strategy – Buy on Dips
MACD – 1.09
RSI – 65.20

The stock has been in news owing to the recent rise in Gold Prices. The company is expected to profit from unwinding its hedges and the rise in the price of Gold. The stock rallied to $41 levels and witnessed a sharp sell-off. Expect the stock to find support at $36 levels. One can buy the stock on dips and remain long.