The gold miners have digested their recent rally well. One name that looks especially ripe for a breakotut is AUY. Big hat tip to 12631 member “tksouth310,” who brought this name to my attention inside of our state of the art chat room today.
Obviously, looking at the daily chart of Yamana, price is below a simple resistance trendline dating back to April. That said, it has consolidated in a very tight and orderly way, while strong buyers amass shares. Rather than running up to the trendline and then being turned away, such as what happened around Memorial Day, the stock is simply biding time, preparing to burst through resistance.
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