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Agnico-Eagle Mines Rises 3.25% on Heavy Volume: Watch For Potential Pullback

By David Diaz

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.

Over the past year, Agnico-Eagle Mines has traded in a range of $21.00 to $60.10 and is now at $47.73, 127% 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