Tag: Agnico Eagles Mines

Agnico Eagle Mines Ltd Stock Code AEM.NYS

Outlook

Price broke and closed above the cloud in the previous trading session, changing the chart outlook to bullish. Conversion line and Base line remain in a bullish crossover and is hinting at a bullish price trend ahead. Lagging Span is above price of 26 days ago and is just above the cloud, confirming the bullish price trend. MACD is bullish and is hinting at a price low as it had given a bullish divergence warning earlier. If price is able to stay above the cloud, it could be heading towards the previous price high at $57.96 in the next 2-3 weeks.

Strategy                  

$52.80                Buy

$57.96                Price Target

$50.10                Risk Management Stop

3 weeks              Trade Duration

Agnico Eagle Mines LTD. Stock Code AEM.NYS

Outlook

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.

Strategy                  

$53.00                Sell

$49.55                Price Target

$55.50                Risk Management Stop

2 weeks              Trade Duration

AGNICO EAGLE MINES LTD Stock Code AEM.NYS

Outlook
Price broke above the cloud on 31 April 2021 and during a correction price, managed to stay above the cloud keeping the uptrend intact. In the previous trading session, price broke above a recent high at $68.81, creating an Ichimoku V-shaped breakout with a price projection target at $73.23. Conversion line and Base line had a bullish crossover earlier and is hinting of a bullish price trend ahead. Lagging Span is above price of 26 days ago and above the cloud, confirming the bullish price trend.  MACD is bullish and both of its lines are rising, hinting of a bullish price trend ahead. Price could be heading towards the previous high at $73.50.

Strategy                  
$69.20                Buy
$73.50                Price Target
$66.90               Risk Management Stop
3 weeks              Trade Duration