Barrick Gold Corporation (NYSE: ABX)

Barrick Gold Corporation produces and sells gold and copper. It is also involved in exploration and mine development activities. The company holds interests in various properties located in the United States, Zambia, Chile, Dominican Republic, Argentina, Tanzania, Canada, Saudi Arabia, Australia, Papua New Guinea, and Peru. As of December 31, 2013, the company had proven and probable mineral reserves of 104.1 million ounces of gold and 14.0 billion pounds of copper. Barrick Gold Corporation was founded in 1983 and is headquartered in Toronto, Canada.
Take a look at the 1-year chart of Barrick (NYSE: ABX) below with added notations:

After a strong decline from mid-August until the end of December, ABX has been trading sideways over the last 4 months. During the sideways move the stock has formed a common pattern known as a rectangle. A minimum of (2) successful tests of the support and (2) successful tests of the resistance will give you the pattern.
ABX’s rectangle pattern has formed a resistance at $13 (red) and a $10 support (green). At some point the stock will have to break one of the two levels.

The Tale of the Tape: ABX is trading within a rectangle pattern. The possible long positions on the stock would be either on a pullback to $10 or on a breakout above $13. The ideal short opportunity would be on a break below $10.
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