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After Yesterday's Rally of 1.89% Shares Could Potentially Pullback

By Nick Russo

Agnico-Eagle Mines (NYSE:AEM) traded in a range yesterday that spanned from a low of $44.50 to a high of $45.49. Yesterday, the shares gained 1.9%, which took the trading range above the 3-day high of $44.83 on volume of 945,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Over the past year, Agnico-Eagle Mines has traded in a range of $21.00 to $60.10 and is now at $44.65, 113% 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 is monitoring the recent change of momentum in Agnico-Eagle Mines. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Agnico-Eagle Mines in search of a potential trend change.

Keywords: rebounders agnico-eagle mines

Ticker(s): AEM