Tsx YRI.TO Thread

[Stock_Analyzer]

All the posts for YRI.TO will go in this thread:

YRI.TO: Summary for YAMANA GOLD INC COM NPV - Yahoo! Finance

[Naamplao]

I must confess that although I do own some Yamana Gold, I am not a great fan of Gold Stocks. I have made money on this stock and continue to hold it but I find Gold stocks not too predictable IMHO

Gold is supposed to be a safe haven in times of trouble, but frankly everytime there is a financial crisis it seems Gold tanks as well. Also while the price of gold has risen greatly in the past year or so, Gold stock share prices don't seem to be keeping in lock-step with them. Finally, gold has little industrial value it is used mainly in Jewelery....platinum is a much better precious metal since it has industrial uses as well as jewelery.

Yamana is supposed to be a good buy though as far as Canadian gold stocks are concerned...so is Goldcorp (G.to) and Kinross Gold Corp. (K.to or KGC on the NYSE)

Here is my take on the TA

The SharpCharp looks basically like that shown in the Yahoo Chart provided by SA

The SharpChart from StockCharts.com shows that the Stock has fallen in the last month from a high of about $19.00 down to $14.50...along the way it has broken its 50dayMA in a negative way but seems to have found a strong support level at $14.50

The Accum/Dist indicates a rather neutral pattern and the TRIX(15,9) looks like it could possibly be bottoming now after the fall....both good signs for recovery

The RSI is less than 50% and fairly flat at the moment.

Here is the P&F chart for GOLD with the P&F chart for YRI.TO beside it.



You can see that Yamana's share price tracks gold pretty well...an what is gold doing now???? tanking a bit in my opinion....I guess these must be good economic times...no need for a safe haven

Ok...seriously now

Both Gold and Yamana are bearish right now

Gold broke a strong support line at $925...tried to recover but failed. The support level for Gold is $900/oz...Break this significantly and we are falling further to another support at $890/oz

Yamana broke a strong support line at $16.00 and falls further to $14.50 where (from the SharpChart) you can see it bounce off of this level for the past few days....so we have a Support level of $14.50 for the time being if it falls through that we are looking for support around $12.50

So....in conclusion....is Yamana a buy right now....I don't think so. I will hold it since I believe it will recover and I bought it at about $10 in Aug of last year...probably should have sold it at $19 or so but got greedy {sigh}

The company is well run by all accounts and has made acquistions and plans expansion and upgrades to existing mine. There are detail in their financial report below

Yamana Gold Reports Fourth Quarter and Year End Results-Record 2007 Revenue and Earnings, Increased Mineral Reserves, Operational and Exploration Update: Financial News - Yahoo! Finance

Short Term look

Here is a 5 day line chart from Yahoo



You can see that the BB's are tight as a drinking straw. Monday April 21 will see a big break. It is a close call but I would say it will initiall fall at the open of the day....the share price is lower than the 50/200minMA...If I was betting on a rise in Share price I'd wait a few hours to look at the direction it goes.

If I were to consider buying it now I would set a bid for somewhere around $12.50 - $13.00. I don't think this support at $14.50 will hold for long...(Gold is not looking to rise soon to me) though I have been wrong many times so do your DD and set your own level if you want to get in...this is supposed to be a $25+/share company at some point in time

[Naamplao]

I told you I hated Gold

Gold the metal commodity is at its support level of $890/oz (see P&F graph below) Is it going to rebound or fall through this level....I haven't a clue since Gold prices are not predictable for me. It is supposed to be a haven in bad times....well are these relative bad times???? Go figure....

Yamana Gold is tracking this downward fall (see the P&F graph below). You can see the support line in blue at $12.50...I expect we will reach it before rebounding

Here is the SharpChart

YRI.TO - SharpCharts from StockCharts.com

Not a pretty sight. The TRIX, RSI, and Accum/dist are all trending down without signs of a real turn around. We have fallen below the 200day MA not a good sign....oh yeah, a stock for bad times It has lost 1/3 its value in about 4 weeks.

Looking at the 5 day line chart it looks as though there will be a price jump next week. (see chart below)

You can see that the BB's are extremely narrow and the share price is well positioned between them. Friday was a bit of a recovery so perhaps the recovery will continue.

On this basis I would predict that Gold itself will rebound and drag this stock with it at least in the early part of this next week. If this stock makes it back to the $19+ range I would probably sell it...It is supposed to be a $25 stock according to some....I am tired of listening to these projections...I just want those $6 I lost in the last 4 weeks back

[Naamplao]

Gold is rising again (see P&F graphs below) and like a puppet Yamana is responding in lock step.

I am not convinced that Gold will resume former glories of $1000/oz but maybe people will think so and drive up the stock price to $19.00 again or beyond.

Here is the SharpChart I use

YRI.TO - SharpCharts from StockCharts.com

As you can see we were headed down negative after the bollinger Band tightening but the rebound of the gold price changed that. We have recrossed the 200 dayMA the accum/Dist is positive and the TRIX looks to be going positive along with the RSI

$15.00 looks to be a resistance mark. From a previous post the P&F chart shows that $13.00 is a support level. If it falls below this then I will sell right away..

Here is the 5 day linechart from Yahoo.com



For the next day or so it looks good...increased volume should drive the price higher....but personally I am looking for a target around $18-19 and then I am out....