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

By Nick Russo

Agnico-Eagle Mines (NYSE:AEM) crossed over its 10-day moving average of $58.01 on a volume of 248K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Agnico-Eagle Mines has traded in a range of $21.00 to $60.10 and is now at $58.22, 177% above that low. The 200-day and 50-day moving averages have moved 1.42% higher and 2.21% 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 94.0%. 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