African Barrick Gold should have a new bearish trend in the coming trading sessions.

From a fundamental viewpoint, the group has not sufficient quality to hope for a continuation of its bullish trend. Indeed, Surperformance rating largely punishes African Barrick Gold because of an excessive valuation with an EV/Sales ratio higher than its peers. Moreover analysts have largely revised downard their EPS and revenue estimates for 2013 and 2014, which reflect the poor financial situation.

Technically, the security had a technical rebound but is still in a bearish trend in the mid-term. The bullish impetus should be stopped in the coming trading sessions. Thanks to it, the security has reached GBp 165.9. 20-day moving average has been broke out but the stock should return to its lowest levels toward GBp 130.2.

Investors can anticipate a return toward support area in the coming trading sessions. They can take a short position in African Barrick Gold. The first target price is fixed on the 100-day moving average at GBp 140 and the at GBp 130. A stop loss order could be placed above the GBp 165.9 resistance area.