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After Yesterday's Rally of 3.25% Shares Could Potentially Pullback

By Nick Russo

Agnico-Eagle Mines (NYSE:AEM) traded in a range yesterday that spanned from a low of $46.61 to a high of $47.85. Yesterday, the shares gained 3.2%, which took the trading range above the 3-day high of $47.47 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.

In the past 52 weeks, Agnico-Eagle Mines share prices have been bracketed by a low of $21.00 and a high of $60.10 and are now at $47.73, 127% above that low price. Over the last five market days, the 200-day moving average (MA) has gone up 1.4% while the 50-day MA has advanced 2.2%.

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