Buy Signals for Yamana Gold
by Sam Collins 03/09/09
Yamana Gold Inc. (AUY) -- This Canadian gold mining operation engages in the acquisition, financing, exploration, development, and operation of precious-metal mining properties in Brazil, Argentina, Honduras and Nicaragua.
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It topped off in January 2008 and plunged below $4 in October. Since then, with the resurgence in the price of gold bullion, the stock has issued a series of Collins-Bollinger Reversal (CBR) buy signals and has rallied to its 200-day moving average at just under $10.
Recently, the stochastic combined with the CBR, emphasized the positive signal. A break above the 200-day moving average could quickly challenge the recent high at $9.68 and move the stock to $11 and then to $15.
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Sam Collins is a registered, fee-based portfolio manager who may be contacted samailc@cox.net. You can also check out an archive of some of his most recent market outlooks by clicking here.
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