Stock Chart Analysis AUY
Yamana Gold Inc. (USA)(Public, NYSE:AUY)
Gold and Gold mining stocks have been perking up lately, with many miners reclaiming their 200-day moving average. Yamana Gold, Inc. (NYSE:AUY) for instance, gapped over its 200-day moving average about a week ago, and has been consolidating above it. It also looks like it is forming the handle for a much larger cup and handle base. It is currently testing the neckline for the entire pattern, and a breakout has implications for a bottom being set in the stock. With Gold on the cusp of testing for a major breakout of it's own, it will be interesting to see if the miners can follow suit. For AUY, the $9.70 area is what I am watching to see if it can breakout.
Good Trading,
Joey
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The 50day sma has also crossed above the 100day sma with both moving averages pointing up. Looks pretty good to me AUY
yeah, 50 could cross 200 soon too. while it backed off resistance, it is holding up well relatively speaking.
Joey