Yamana Gold – Long Term Weekly Chart Review – Bottom in Sight

Long term chart for perspective.  This price is almost at the mid-point of this 8 year range.  I hope this and the following chart will compel the reader to do additional research on this stock $AUY but other precious metal stocks / Uranium.

If you are also bullish PMs and want to see how you could trade this stock lets look at this current move:

A good scheme for this stock would be to buy around this current price level or on the initial push higher and put a stop around $8.29.  That is a 32 cent risk which would be ~3.7 loss, vs potential of a fast move to the upside with a target of 200 day week moving average.