After Yesterday's Rally of 1.01% Shares Could Potentially Pullback
Agnico-Eagle Mines (NYSE:AEM) traded in a range yesterday that spanned from a low of $55.47 to a high of $56.27. Yesterday, the shares gained 1.0%, which took the trading range above the 3-day high of $55.94 on volume of 1.1 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.
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 87.5%. We continue to monitor AEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Agnico-Eagle Mines share prices have moved between a 52-week high of $56.27 and a 52-week low of $21.00 and are now trading 165% above that low price at $55.71 per share. Over the past week, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 2.2%.
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