Stock Chart AUY

Posted by downtowntrader | 3/25/2009 10:13:00 AM | 2 comments »

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

Make the LOGICAL Choice...MarketClub Click Here

2 comments

  1. tradingstocks // 12:22 PM  

    The 50day sma has also crossed above the 100day sma with both moving averages pointing up. Looks pretty good to me AUY

  2. downtowntrader // 2:51 PM  

    yeah, 50 could cross 200 soon too. while it backed off resistance, it is holding up well relatively speaking.


    Joey