Touble for AUY? Yamana Gold INC. Market Watch 9/19/18

in #trading • 6 years ago (edited)

Quick and dirty look at the stock here. Silver and gold spot values have failed the rally in recent weeks, leading me to be very concerned for the gold mining stocks.

Looks like we have had a support break, and a down trending OBV, and a lack of volume to change anything about it. Seems like this stock is set to make another leg down.

bY307eQi.png

Here is a similar set up in this same stock that produced the results I am thinking will come to pass.

6w3Dyvuh.png

You can see the price tries to stabilize, but after losing the support line, the volume is not confident to come in and buy. This shows itself in the flat OBV indicator. If there is no excitement to push it back up quickly, it must go down further and look for a support line that will generate more interest in buying the stock.

Thanks for reading,

-Icee-

Please leave me an upvote and remember this is not trading advice.

#charting #bitcoin #cryptocurrency #stocks
6 years ago in #trading by
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