Barrick Gold (ABX)
Through good years and bad, ABX stock has lost an average of 6.4% in April over the last decade. It bounces back in May with a 4% gain, but then slides another 1.5% in June. ABX stock also lacks relative strength heading into the month, scoring a 40 out of 100 on Thomson Reuters’ Relative Strength Indicator.
ABX stock is up 2% for the year-to-date, but the technicals say that the immediate trend is down. ABX stock is 38% below its 52-week high and 9.2% below its 50-day moving average. It also trades 1.6% below its 200-day moving average. From a technical standpoint, there’s no reason to expect ABX stock to shine in April — or through the rest of the spring — and that lands it among the stocks to sell.
As of this writing, Dan Burrows did not hold a position in any of the aforementioned securities.