After Yesterday's Rally of 2.51% Shares Could Potentially Pullback
Agnico-Eagle Mines (NYSE:AEM) traded in a range yesterday that spanned from a low of $56.92 to a high of $58.28. Yesterday, the shares gained 2.5%, which took the trading range above the 3-day high of $57.14 on volume of 1.0 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 91.6%. We continue to monitor AEM for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Over the past year, Agnico-Eagle Mines has traded in a range of $21.00 to $58.28 and is now at $58.26, 177% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.2% while the 200-day MA has risen 1.4%.
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