Stock chart patterns and technical analysis (TA) explained simply. Disclaimer: This blog and all its contents are for educational and entertainment purposes only. Do not trade or invest based on any information seen on this blog. Please read Terms of Service. The K E Stone blog sites (Keybot the Quant) are blacklisted by Google, so enjoy the ad-free experience, and only use the Donate button when supporting the sites.
Thursday, December 1, 2011
AUY Yamana Gold Weekly Chart Negative Divergence
AUY weekly chart shows price coming up for a matching or higher high as compared to September. Note the strong negative divergence. Even if price ran upwards to 17 or 18 the negative divergence should remain so there is nothing attractive to buy here. The action over the last two days filled a gap at 16.8 from early September so that closes out any remaining business above. Projection is for price to place a significant top now anywhere between 16.8 and17.8 and then roll over for lower prices for the weeks and months to come. This information is for educational and entertainment purposes only. Do not invest based on anything you read or view here or any links connected to this information. Consult your financial advisor before making any investment decision.
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