Alex_Quiroga

Bullish Gold Futures = Mining Companies (#6 AUY)

Long
Alex_Quiroga Updated   
NYSE:AUY   None
This is another mining company the chart is similar to the past idea the symbol too but this is Yamana Gold Inc. and not AngloGold Ashanti
It is a faithful copy of the last idea. And that shows how strong are in this moment the mining companies
Again a tested support for one year at a 2.50 level more or less and now the price is showing more strength surpassing now the first resistance level at 3.10 and now is moving to the 3.50 resistance level
The Idea is similar from a technical point of view but things like price and Beta are different and here is when managers and investors decide which one suit to your risk profile.
The decision are not only based in technical analysis. The managers need more compelling reasons to buy shares and this is the job of fundamental analyst at a firm
I propose several ideas and then there are a selection of which ones are the best for a portfolio. I do not make the decisions here.
The advantage of technical analysis is the quantity of companies a trained person can view in a day, and then select candidates.
Trade closed: stop reached:
Simply not work
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