Yamana Gold Poised To Break Out

Shares of Yamana Gold AUY are trading higher on the session by 2.65%, at $13.19. The stock has been rallying higher over the past fourteen trading days as Gold futures have rallied to new highs. Yamana Gold now looks poised to break above its 5-month high, at $13.40. The first indication that shares were headed higher occurred on July 7th, when the stock broke above a technical downtrend that emanated from the $13.40 high. Breaking through the $13.40 level is the next step in the continuation of Yamana Gold's long-term bull trend. Note that the 20-day, 50-day, and 200-day moving averages are all upward-sloping, which indicates accumulation of shares. Yamana Gold has only 0.50% of shares short. Yamana Gold Inc. is a gold producer with gold production, gold development stage properties, exploration properties, and land positions in Brazil, Argentina, Chile, Mexico and Colombia.