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Yamana Gold May Test Lows

|Includes:Yamana Gold Inc. (AUY)

Yamana Gold Inc. (NYSE:AUY) just released earnings and beat the estimates by one-cent.

Price action suggests that at least for now, the response is negative.

We are watching to see how Yamana handles price support in the area of 8.55 - 9.00 as there may be an opportunity to go long (for a medium to long-term trade) with a small amount of risk.

We consider Yamana a solid gold producer and one of the large miners that still has a measurable PE ratio.

(click to enlarge)AUY Daily chartClick to enlarge

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Investing or trading in equities, futures or options may result in a significant loss of capital, total loss of capital or a loss greater than available capital.

We are not advocating any stock or in any way offering portfolio management advice or stock selection service.


Paul Mosgovoy, President: Three Ten Trading, LLC

Thank you for reading.

Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in AUY over the next 72 hours.

Stocks: AUY