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.
In the past 52 weeks, Agnico-Eagle Mines share prices have been bracketed by a low of $21.00 and a high of $56.27 and are now at $55.71, 165% above that low price. 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 87.5%. We continue to monitor AEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
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