Agnico Eagle Mines LTD. Stock Code AEM.NYS
Price tested the cloud on 22 October but was unable to move above the cloud, keeping the bearish trend intact. In the past two trading sessions, price had a gap down, reinforcing the bearish trend. Base line is likely to provide the first level of resistance at $54.10. Lagging Span is above price of 26 days ago but is below the cloud. MACD is above the zero line but has a bearish crossover, hinting of a bearish price trend. We think price is likely to move lower to the previous low at $45.56 in the next 2-3 weeks.
$49.55 Price Target
$55.50 Risk Management Stop
2 weeks Trade Duration