Nearly 25% Gains May Be In This Under $10 Stock’s Future

After a difficult year, Yamana Gold (AUY) appears to be turning up

   
Nearly 25% Gains May Be In This Under $10 Stock’s Future

Yamana Gold (AUY) — Over the years, I have recommended this large-cap Canadian gold miner of properties in the Americas several times. I last covered it in March 2013, but disappointed in its performance, have since stayed away.

Now, however, the stock appears to be turning up. On Aug. 1, a Raymond James analyst upgraded it from “market perform” to “outperform” and raised the price target to $10.50. The analyst said he expects the miner to increase production by 20% in Q3 and 30% in Q4.

Technically, AUY is challenging its 200-day moving average at $8.77. Its MACD has turned positive, upside volume has been strong, and a close above $8.77 could result in a quick trading run with a target of $10.70. Support is at the 50-day moving average at $8.17. A stop-loss order at under $8 is recommended.

08 11 14 auy 300x182 Nearly 25% Gains May Be In This Under $10 Stocks Future
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chart key 300x84 Nearly 25% Gains May Be In This Under $10 Stocks Future


Article printed from InvestorPlace Media, http://investorplace.com/2014/08/trade-day-yamana-gold-auy-2/.

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