NYSE:AEM Agnico Eagle Mines Limited
This is what we tell the bears currently busy with Agnico. Our furry friends shouldn’t let themselves get distracted by the little countermovement, but should rather continue to focus on our primary scenario – just as they have been doing so admirably lately. Thus, we expect the stock price to resume the descent and to fall below the next support at $31.03. However, there remains a 30% chance that Agnico could develop massive upwards momentum and rise above the resistance at $74.50. In that case, the stock price should gain even more drive and cross the next resistance at $89.16 as well.