Auy

[HERB]

looking for suggested exit point on AUY.

herb

[FibMaster]

Nice chart and a great question!

Are you long right now? What time-frame?

There is SK resistance (Fibonacci) at $13 to $13.25, so I would consider banking near-term bullish profits on weakness in that area. Pushing through that level would be very bullish, but I'd be surprised if it can do that without dropping back some.

On the monthly and weekly charts, there is a very long-term up-trend, but I don't know if you are in it for that long haul.

[HERB]

am long...........looking out about 6 months.
tempted to take profits @ 13 + /- and probably re-enter again.
thanks for the reply.

herb

[HERB]

you made my day............sold @ 13.01..............closed @ 12.88.
silly question, where is my entry point now for the next swing????

herb

[FibMaster]

Hi Herb. Apologies for my late reply, I've been preoccupied over the year-end season.

AUY stalled at the near-term resistance for a few days, so you made a good exit for short-term profits. Since then AUY has taken off with the next swing already, starting with a sudden gap upward.

If you are trading intraday, you have to watch for a retracement on the 60 minute chart, to buy a pullback. If you really want a longer-term trade, then a pullback on the daily chart is needed.

FYI there is near-term resistance at $15.00 as well as $16.00 we can't know whether the market will stall at those, but short-term traders should look out for those to take profits or wait for a resistance-pullback if the market does stall.

[HERB]

thanks for the reply.............knew you wouldn't forget me.
neal, am i right in looking to re-entry @13.50+ -, that'e where 19 & 50 MA seem to converge???

herb