BarryStocks

BarryStocks

After declining by more than 80%, Centaurus Metals has broken out of its downtrend. While this may be the first step in a multiweek base-building process for the nickel mine developer, the chance of a v-shaped bottom makes Centaurus worthy of a speculative add following this seriously bullish price action.

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US stocks, led by mega cap tech companies and the NASDAQ writ large, started 2024 on a hot streak. But as momentum slowed, an arc pattern supporting the market became clear, only to be decisively broken. Analysis of key support and resistance levels provides price targets for the coming weeks.

BarryStocks

Equinox Gold Corp is poised to deliver outsized returns on gold price appreciation after completing breakouts, and backtests, of key weekly chart resistance levels.

BarryStocks Updated 

OXY is on the verge of breaking through a major resistance line which was first touched over a decade ago. As the daily chart repeatedly bumps up against, but not crossing, this key resistance line, multiple factors make OXY a screaming buy.

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After spiking amidst the banking panic of early 2023, gold steadily declined throughout the summer, before charging forward towards a spectacular year-end finish. Although a weak 2024 debut has tarnished the yellow metal in the eyes of some, it could be headed for new highs much sooner than they expect.

BarryStocks Updated 

Since hitting a record high of 126 in 2020, the gold/silver ratio has broken down and has remained contained beneath the monthly chart's Ichimoku cloud as it forms a symmetrical triangle. A similar formation appears immediately preceding the 2000 and 2008 recessions, when the ratio broke above the apex of the triangle and through the Ichimoku cloud as traders fled...

BarryStocks

While not a reason to be short stocks on its own, there is quite a bit of symmetry on the S&P 500 chart since 2021 that could be setting up for a sharp leg downward. This is not a high confidence prediction, just a visually interesting observation that made me stop to think. Happy New Year everybody! 🤪

BarryStocks

Since early 2021, the 10Y-02Y yield spread (an early bellwether indicator for a coming US recession) has undergone a long and deep inversion. Fears of economic instability as 10 year yields sharply rose in fall of 2023 eventually subsided as stocks rallied to close the year. However, the year also ends with a sign that another sharp increase in the yield spread...

BarryStocks

While the small caps have provided fuel for a bull run in stocks to close 2023, they look to be running on empty when priced in gold. Since breaking down in late 2021, the Russell 2000 has previously tested the Ichimoku cloud 3 times, swiftly bouncing downward on each attempt. In tandem with price, momentum has been rejected by a resistance level of 60% on the...

BarryStocks

Nintendo has trended downward for over 3 years, but after battling through multiple clearly-defined levels of resistance, now could be in the clear. Among the foes vanquished by the Japanese gaming juggernaut is the Ichimoku kumo or cloud, to which NTDOY share price noticeably responds. A looming Switch 2 announcement provides fundamental fuel for the bullish case.

BarryStocks

We've seen a series of bull flag breakouts as Silex has climbed up during the recent Uranium bull market. Each move up has seen at least a 100% increase in share price from trough to peak. The most recent break upward is supported fundamentally by news of the US House of Representatives passing a ban on Russian enriched uranium imports, which can be seen as...