Taking a quick look at the above chart we can see that Yamana Gold Incorporated (AUY) has taken a clobbering of late dropping another $6.10% to close below $10.00 yesterday. The RSI is about to break the '30' level placing it firmly in the oversold zone.
We are not too keen on buying AUY just yet as we want to see the dust settle from this latest sell off before acquiring any more stock. It may just turn out that one stock is way more oversold than the others of a similar ilk, hence a bigger rebound may be on the cards.
It was a strange day for the markets with the broader markets losing a lot of ground along with the metals and oil etc. The only beneficiary appeared to be the US dollar which we don't see going much higher, but the market behaves as it wishes, so go gently if you are looking to acquire more stock.
Yamana Gold Incorporated trades on the following Stock Exchanges:
AUY on the New York Stock Exchange
YRI on Toronto Stock Exchange
YAU on the London Stock Exchange, giving it global exposure to investors.
Yamana Gold has a market capitalization of $7.22 billion, a P/E ratio of 20.97, with 733.25 shares outstanding, has a 52 week high of $14.37 and 52 week low of $7.27 and closed today at $9.85.
All the best.
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