AEM trade ideas
AEM - Retest and FailThe volume has been increasing on the bearish move lower. EMA’s are headed bearish steadily following this move lower. The SMA’s gave a bearish cross recently. Stochastics are giving a sell, RSI is headed lower and MACD is giving a sell. The BB have been broken bearish and ADX is headed higher from being sideways. Yesterday there was a bearish retest gap with the stock headed back bullish and testing resistance, failing and finishing the day strong bearish. The 15 minute ADX is somewhat high so I would expect some sort of pullback for at least part of the day which presents a decent selling opportunity.
Swing trigger is $22.76
Stop is $26.33
Target is $15.40
Mining For Gold Miners, Agnico Eagle Mines Ltd (USA)(NYSE:AEM)The precious metals have come under some decent selling pressure, as GOLD is trading around $1275/oz. Following suit are the gold miners and Agnico Eagle Mines Ltd (USA)(NYSE:AEM) is no exception, as it is down nearly 4.5%. This weakness has peaked my interest as a pro trader and will be looking for a good entry point, for a long side trade. On the chart below Agnico Eagle Mines Ltd (USA)(NYSE:AEM) is currently holding an up sloping trendline. Should this trendline fail as support then this stock is headed straight for $35.30 and then the very attractive buy level of $33.25. Keep this stock on your radar and use those two levels I have given you to make easy money!
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