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Yamana Gold Set to Rebound after Yesterday's Selloff of 2.85% (AUY)

Written on Wed, 07/28/2010 - 12:55am
By Chip Brian

Yamana Gold (NYSE:AUY) traded in a range yesterday that spanned from a low of $9.17 to a high of $9.49. Yesterday, the shares fell 2.85%, which took the trading range below the 3-day low of $9.41 on volume of 9.6 million shares.
Shares of Yamana Gold are currently trading below their 50-day moving average (MA) of $10.28 and below their 200-day MA of $11.02. Look for these MAs to provide resistance for a short-term rebound in the shares.
SmarTrend is bearish on shares of Yamana Gold and our subscribers were alerted to Sell on July 01, 2010 at $9.97. The stock has fallen 7.8% since the alert was issued.
SmarTrend has the shares in a Downtrend and expects the share price to rebound toward the $9.41 resistance level. Afterwards, we expect it to move downward with its peers in the SmarTrend Gold industry.

Keywords: yamana gold trading range stock news

Ticker(s): AUY

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