Monday, January 28, 2008

Chart Review: Yamana Gold Inc (NYSE:AUY)

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The measured move strategy (AB=CD, where C=opening low on Jan. 22/08) suggests a price target of 19.7-ish, the round number of 20 also makes sense as price target. If Yamana Gold (NYSE:AUY) can close above 17, then 19-20 is a definite possibility. AUY has also been trending up nicely over the past 4 trading sessions, so a close below 16 would invalidate the price target and break the trend.

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