The Long Investor

$GOLD - NYSE - BARRICK GOLD CORP

Added 2023-11-30 12:46:25 +0000 UTC

Ok this is the ticker $GOLD, which is on the NYSE and not to be confused with our Gold chart which was uploaded yesterday that reflects the price of Gold right now....this chart above is a company that focuses solely on mining and distribution.

I am adding this because I want us to be prepared for the market if it takes a turn when the Fed Pivots and a company like this will likely benefit.

I have looked at Dollar General $DG and Dollar Tree too $DLTR, two other companies that we expect to do well during a market pull back.

On the Chart above, we can see that the price action has not turned bullish yet which could mean we are early, the price is still below the 200 Day MA on the weekly chart too. The 200 Day is exactly at the trend line too at $20 so this is an area we are watching, a breakout above this level and we turn bullish and there is strong potential to the next resistance level at the blue line at $31.

Likewise, this could still drift down the channel to find support, I think it would be hard to ignore buying this if we go as low as the 0.78 Fib at $11.30

My main attraction towards these stocks will be to keep our capital safe, so not to lose money, there is also a 3.63% dividend yield here too, this makes it a very smart investment if the market pulls back next year and all signs are showing it will.

I am going to add this chart and all Recession proof charts to a folder in Collections, so they can be easily accessed on the main pagel