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Agnico-Eagle Mines Bearish Moving Average Crossover Alert (AEM)

By Shiri Gupta

Agnico-Eagle Mines (NYSE:AEM) shares have crossed bearishly below their 10-day moving average of $36.27 on a volume of 355K shares. This may provide short-term investors a chance for a short position, as such a crossover often suggests lower prices in the near term.

In the past 52 weeks, Agnico-Eagle Mines share prices have been bracketed by a low of $21.00 and a high of $39.49 and are now at $36.15, 72% above that low price. The 200-day and 50-day moving averages have moved 0.28% higher and 1.62% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Agnico-Eagle Mines on January 7th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $29.51. Since that recommendation, shares of Agnico-Eagle Mines have risen 23.5%. We continue to monitor AEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses agnico-eagle mines

Ticker(s): AEM