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Agnico-Eagle Mines Crosses Above its 10-day MA (AEM)

By Nick Russo

Today, shares of Agnico-Eagle Mines (NYSE:AEM) have crossed bullishly above their 10-day moving average of $55.06 on a volume of 619K shares. This may provide short-term investors a chance for a long position, as such a crossover often suggests higher 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 $56.50 and are now at $55.92, 166% above that low price. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 2.2%.

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 84.0%. 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