B2Gold Corp (BTG)

BTG stock forecast: buy or sell

BTG stock outlook

  • B2Gold closed on Friday at $6.99 (-3.85%) prior to reporting earnings at
  • On Wednesday, B2Gold made public its Q2 earnings report
  • The stock is configuring an uptrend pattern since mid-March, when it bottomed at $2.15. Up to date, shares made a 225.12% profit since the beginning of this rally
  • B2Gold marked a new all-time high on Wednesday, setting the new record at $7.55.
  • B2Gold marked a new all-time high on Wednesday, setting the new record at $7.55.
  • B2Gold Corp. operates as a gold producer with three operating mines in Mali, the Philippines, and Namibia.
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Please read:
The thoughts published in this post are personal and not recommendations for you to buy or sell stocks. The author of this article does not know the specific conditions of the reader, his or her financial statements or what is in his or her best interest at any given time. All users should speak with their financial advisor before buying or selling any securities Opinions are published for informational purposes only

BTG stock chart overview

Should I buy B2Gold stock?

Even if you are a experienced or a novel trader, best trading results come from using an investing strategy that never leaves to random or subjective opinions when is the best moment to buy or sell stocks. Trading strategies are meant for helping you in the decision process of what stocks to pick and when is the best moment to buy them. At Stocks2.com, we like to use very simple but trusted and powerful trend following trading strategies. Simple things usually work the best

Is BTG stock a buy?

Currently, B2Gold stock doesn't match any of these trading strategies, so our recommendation is not to buy now. This doesn't mean BTG will slide in coming sessions, or it will not rise higher. Simply, it doesn't match our recommended trading systems

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Should I sell B2Gold stock?

When you are a novel trader and you own a stock with some profit, it's really hard to decide the correct moment to sell and get your profits. Trading strategies let us to avoid rash decisions based on our sentiments or the noise surrounding the market. When selling, as well as buying, our setups are very easy to follow and are only applicable for selling stocks in your porfolio, not for shorting BTG stock

As a golden rule, you must never keep a trade that results in higher than expected losses by the time of purchase. When to sell your stock always has to be determined by the stop-loss (automatic or manual)

Is it time to sell B2Gold stock?

Currently, B2Gold stock doesn't match any of our preferred sell setups, so if you hold B2Gold shares and your operation is in profit probably is not time to sell now

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Analysts' recommendations to buy or sell B2Gold stock

Brokerage firms and financial institutions post stock ratings based on their views of the market and the fundamental and technical situation of the analyzed stock. Unfortunately, the accuracy of these predictions is not very high, and certainly not a direct buy or sell signal

We don't have any rating posted in the previous month for B2Gold

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Technical analysis

B2Gold shares started an uptrend in mid-March, and grew an amazing 225.12%. The chart shows higher peaks and troughs, and along the way gave very few entry points for those who wanted to trade in. Latest low was in late May, when price bounced at $4.84. Like in all uptrends, price needs to rest and now price is moving in a range between $7.55 and $4.84

BTG at All-time Highs

B2Gold did it again, and hit all-time highs (ATH) on Wednesday at $7.55. Stock rallied fast in the last 2 weeks, cracking new all-time highs 5 times

SMAs overview

Moving averages are tools for traders to gauge market momentum. A moving average is the average price of a stock over a set period of time. Moving averages are usually calculated on different periods depending on the trading timeframe 21, 50, 100 and 200 days are the most usual moving averages. Further about Moving Averages from sources like Wikipedia and Investopedia

Supports and resistances

Investors use support and resistance levels as a way to spot price points in the stock price action that may behave as obstacles, preventing the price of an asset to move up or down. Supports are levels where the price tends to find support as it falls. Price is more likely to "bounce off" this level rather than break through it. Nevertheless, if the price breaks down the support, it will probably continue falling until finding another support level. On the contrary, a resistance level is where the price tends to find resistance as it moves up. Again, this means that the price is more liable to "bounce off" at this level, and if it finally crosses this level, it will rise more easily until it finds the next resistance

The current resistances are:

  • R1: $7.55 (8.01% above)
  • The current support levels are:

  • S1: $5.73 (-18.03% below)
  • S2: $4.90 (-29.9% below)
  • S3: $4.84 (-30.76% below)
  • Bollinger bands

    The so-called Bollinger bands are a widely known practice introduced by John Bollinger. It consists of three lines that are drawn superimposed on the price evolution chart:

    • The central band is a moving average, usually a simple moving average calculated with 20 periods
    • The upper band is calculated by adding to the value of the simple moving average 2 times the standard deviation of the moving average
    • The lower band is calculated by subtracting from the simple moving average 2 times the standard deviation of the moving average

    Since the price surpassed the upper band on Wednesday, the price corrected downwards by 7.42%

    Relative strength index

    The relative strength index (RSI) is a technical indicator used in the analysis of stock markets. Its objective is to chart the current and historical weakness or strength of a stock or market based on the closing prices of a recent trading period. Like other oscillation indicators, the RSI ranges from 0 to 100. J. Welles Wilder introduced the relative strength indicator in the late 1970s and since then it has been widely used by stock traders

    After crossing up the overbought zone yesterday, Relative Strength Indicator (RSI) fell back below with a value of 62.33. This is a weak signal for the B2Gold shares and it should raise our awarness of weakness in the stock price

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    Earnings and financials

    BTG had the quarterly earnings call and presented the second-quarter report on Wednesday. The market estimate is a an earnings per share (EPS) of $0.12, that is a 20% higher than last reported quarter.

    Same quarter one year ago, reported EPS was $0.05, so current EPS means a decrease of -100%. Looking at revenues, figures exploded a 26.07% compared to $301.7M year over year.

    BTG is hosting the quarterly earnings call. If you hold or you are looking to buy BTG stock, you must be on alert as the financial reporting day usually has a higher than usual volatility, and price can soar and sink with unsually low liquidity and not honouring your buy or stop-loss orders. You can probably find more details about the earnings call and the financial reports on the Investor Relations section of its website: http://www.b2gold.com.

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