Yamana Gold on a Well-defined Uptrend
The last time there was a big divergence between the 50ma and 20ma, Yamana gold increased by 91% over 123 days.
I don't expect to see such a large move again this time around but it's more than likely that AUY will pick up steam in gains now that it has regained its 20ma as support.
From September to February, Yamana has been steadily climbing with the 50ma as support.
Since Feb 20th, Yamana has regained the 20ma as it's main support. With the price of gold being where it is, I expect Yamana to provide shareholders with outsized gains again going into Summer.
The upward channel is so obvious that this is the safest channel trade I have found thus far. Be patient on entry and you have a high probability of making some nice gains!
Also, the high P/C ratio is sweet, as it provides us with a nice rubber floor as support.
I don't expect to see such a large move again this time around but it's more than likely that AUY will pick up steam in gains now that it has regained its 20ma as support.
From September to February, Yamana has been steadily climbing with the 50ma as support.
Since Feb 20th, Yamana has regained the 20ma as it's main support. With the price of gold being where it is, I expect Yamana to provide shareholders with outsized gains again going into Summer.
The upward channel is so obvious that this is the safest channel trade I have found thus far. Be patient on entry and you have a high probability of making some nice gains!
Also, the high P/C ratio is sweet, as it provides us with a nice rubber floor as support.
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