AUY

[Melf Elf]

On Friday's rally, MACD ticked higher, from just below the zero line (hard to see on this chart).  In a bullish stock, a bounce higher from anywhere near that zero line often is good for a rally.

But, again, you can see what I mean about "rally ugly," because the MACD will have to rally into its signal line, which is coming down hard. 

Updated MACD chart.

Given the technical weakness and the failure to continue to "Rally Ugly Monkey," right at Kumo (Cloud) resistance, I would be surprised if AUY didn't at least re-test the 11.38 W-Bottom breakout.

EDIT: Updated price and 34/55RSI charts are at the bottom of page 4.

[nullzero]

AUY is in green so far today, im hoping it stays like that.

[Holygrale]

Nice close, I'm glad to see the POG was up as well.........

Houston.............We need VOLUME!! 

[ScottishTrader]

I like yesterday's bounce on AUY, suggesting a "higher low" in this phase of the pullback.  Obviously this needs upside confirmation to demonstarte that this is a new upswing.  The candle is also an "inside day" which often suggests a reversal after the previous red candle.  Again, this need s confirmation.

In terms of larger patterns, this retrace looks like a flag (although it is expanding a bit, like a wedge, which we would like to see break to the upside.  There may be some support at 11.68-11.71, and below that, the area between 11.36 and 11.50 should  provide solid support.  In terms of resistance, near-term, AUY wants to get over 12.15 and the 50SMA, and then attack larger resistance at 12.50. This may end up corresponding to a breakout of the flag pattern.  Also nice to see how volume has been increasing over the last 3-4 months, and is still high.

I picked up some yesterday at $12.00.  Not the ideal entry, but I've been too heavy in tech lately, so I like the idea of holding some gold for a bit, to see how it does.  With a stop at $11.30, it leaves me open to some risk (about 6%), but a break above 12.50 should put 13.80 in play (top of flag) and possibly $15 (measured move off the flag breakout).

[nullzero]

Updated chart of AUY, AUY is sitting slightly below the 50DMA . The support at 11.50 held up and AUY bounced from it. The moving averages are very tight right now and the MACD looks like its on its way up with a crossover into the positive. We just need the POG to raise and sucessfully climb over 640 then that will give a green light for AUY to rally up.

[nullzero]

Strong bullish move today still going higher! Trading at 12.89 atm up over 8% . New 52wk highs are around the corner. Will post a updated chart at the end of the day.

[nullzero]

Chart looks like its ready to run more tomorrow!

[Holygrale]

HUGE move today, even had a chance to pull the trigger and buy 5k more this morning at $12.30................

Gidde up!

Fire works have just begun, for the NEXT Leg up!

[nullzero]

I was sitting and waiting for the run today. I knew the POG had a good chance to blow over 640 and it did today. Combine the fact that the MAs were so tight and that many shorts were still in AUY. It caused a explosive breakout with high volume.

[Holygrale]

Follow thru is everything, nice Volume too..................

[Holygrale]

This one is shaping up nicely..........

Huge breakout coming on 10+million in volume........Watch for it!

Play the dips for .10-15 cent day trades along with your core position........

[lancefur]

I would love to get into this like I did back in November when it had a sharp increase. I can't tell for sure based on the graph if we are in for another good run. I would love to own this again and make money on the trade again. But not sure if this is one of those you can time right to make the nice up ticks. I will look to get into this one early next week.

[Melf Elf]

Given the technical weakness and the failure to continue to "Rally Ugly Monkey," right at Kumo (Cloud) resistance, I would be surprised if AUY didn't at least re-test the 11.38 W-Bottom breakout.

AUY stopped going down right there (the "Thumbs Up" on the chart).

Instead of re-testing 11.38, it "rallied ugly" again, against the technicals, only this time AUY broke out above the validated channel (at Green #3), and the technicals have "gotten well."

In terms of larger patterns, this retrace looks like a flag (although it is expanding a bit, like a wedge, which we would like to see break to the upside. 

Scotsman,

That "expanding" deal threw me off, but here's what I think that was:

1. Draw a line coming off the 12.18 low, parallel to the top of the channel.

2. AUY breaks below it, to go down to 11.32 to validate the W-bottom breakout, as support.

3. It then does the "Rally Ugly Monkey," against the technicals, back into the channel, gets stopped at the top of the Kumo, and sells off to 11.75.

4. Where does the selloff stop?  Smack on the bottom of the channel, where the green "Thumbs Up" is. 

Aha!

Now it's the Bull Flag (pattern in green) that it "should have been," but it had a Bear Trap fakeout to 11.32, and validated the W-Bottom breakout as support.

(EDIT:  Some of you will remember that BRCD did this identical thing during all of the channel morphing, prior to the big breakout to the upside)

Strong bullish move today still going higher!

nullz,

Nice job there.  Yes, AUY broke out above the top of the validated channel (Green #3) the next session, and has been consolidated at the top of the channel since.

Next couple of posts, I'll show you what I mean about the technicals "getting well" during this "Rally Ugly Monkey" phase.

[Melf Elf]

MACD "getting well" during the Rally Ugly Monkey phase.

[Melf Elf]

34/55 RSIs "getting well" during the Rally Ugly Monkey phase.