Weaker Buy Today AEM ranks #2009 as BUY CANDIDATE. Stronger Buy
Today AEM ranks #2009 as BUY CANDIDATE.

AEM stock Agnico Eagle Mines Limited

AEM stock
Agnico Eagle Mines Limited

March 18, 2019
Change -1.14%
Chart period: 2018-12-19 - 2019-03-18
VOLUME
Sell
TREND
Buy

MV LONG
Buy

MV SHORT
Sell

PIVOT
Sell

MACD
Buy

Will AEM stock price go up or down on Wed, 20 Mar 2019?

Agnico Eagle Mines Limited Forecast and Stock Analysis

Technical AEM stock analysis for March 18, 2019.

Buy candidate since 2019-03-07 Gain 2.18%
Shorts 4.80% ( 2019-02-28 )
Cash n/a
Loans n/a
Beta -0.49
ROA -4.16

Agnico Eagle Mines Limited fell by -1.14% in the last day from $43.71 to $43.21 The price has risen in 6 of the last 10 days and is up by 1.62% over the past 2 weeks. Volume fell in the last day along with the stock, which is actually a good sign as volume should follow the stock. In the last day the trading volume fell by -930 140 shares and in total 652 755 shares bought and sold for approximately $28.21 million.

Close price at the end of the last trading day (Monday, 18th Mar 2019) of the AEM stock was $43.21. This is 1.14% less than the trading day before Friday, 15th Mar 2019.

During day the stock fluctuated 2.46% from a day low at $43.06 to a day high of $44.12.

30 day high of the AEM stock price was $44.95 and low was $41.47.
90 day high was $44.95 and low was $38.17.
52 week high for the Agnico Eagle Mines Limited - $47.83 and low - $32.18.

Trend

Agnico Eagle Mines Limited lies in the middle of a strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 11.02% during the next 3 months and, with 90% probability hold a price between $46.63 and $50.95 at the end of this period.

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Signals

Agnico Eagle Mines Limited holds a sales signal from the short-term moving average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock. On further gains, the stock will meet resistance from the short-term moving average at approximately $43.80. On a fall, the stock will find some support from the long-term average at approximately $42.99. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sales signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sales signal was issued from a pivot top point on Wednesday March 13, 2019, which indicates further falls until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

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A buy signal from a double bottom formation was found on Wednesday March 06, 2019 and based on theory for this formation the price should go up by 2.12% to $43.74 within 14 trading days since signal was issued (Tuesday March 26, 2019).

Relative Strength Index (RSI)

RSI14 is 50 and the stock is currently not being overbought or oversold

Access full RSI 14 and RSI 21 lists

Support & Resistance

On the downside, the stock finds support just below today's level from accumulated volume at $40.40 and $39.69.

There is natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Agnico Eagle Mines Limited finds support just below today's level at $40.40. If this is broken, then the next support from accumulated volume will be at $39.69 and $38.20.

Support: $40.40 Price: $43.21 Resistance: $43.30

Risk

This stock is usually traded at good volume, and with minor daily changes the risk is considered to be low. During the last day, the stock moved $1.06 (2.46%) between high and low. For the last week, the stock has had a daily average volatility of 1.92%.

Our recommended stoploss: $40.91 (-5.32%) (This stock has low daily movements and this gives low risk. There is a sell signal from pivot top found 3 days ago.)

Overall risk:

Very Low Low Medium High Very High

Evaluation: Buy Candidate

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for this stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our recommendation for this stock since last evaluation from a Strong Buy Candidate to a Buy Candidate.

Weaker Buy Today AEM ranks #2009 as BUY CANDIDATE. Stronger Buy
Today AEM ranks #2009 as BUY CANDIDATE.