AEM long
### Entry Position, Stop Loss, and Take Profit for Agnico Eagle Mines (AEM) Stocks. Entry Point:
- **Entry Point**: $66.60 - $68.05
- **Reason**: The current price is close to the support level at $66.60, as indicated in the technical analysis. This level is where the price is likely to stop falling and start rising.
#### Stop Loss:
- **Stop Loss**: $61.27
- **Reason**: A stop loss 8% below the entry point ($66.60) to limit losses in case the price moves unfavorably.
#### Take Profit:
- **First Take Profit**: $75.00
- **Reason**: This level corresponds to previous highs and can serve as the first resistance level where the price may stop rising.
- **Second Take Profit**: $80.00
- **Reason**: If the price continues to rise, $80.00 may be the next level to take profits.
### Why It's Worth Buying Now:
1. **Technical Signals**:
- **Return to 10-Week Average**: The price is returning to the 10-week average, which is often a positive signal for buying.
- **Rising Relative Strength (RS) Line**: The RS line is rising and surpassing the short-term downtrend, indicating potential further growth.
2. **Fundamental Indicators**:
- **Earnings Growth**: EPS (earnings per share) is expected to be $3.23 this year, with a projected growth of 11% next year.
- **Strong Position in the Gold Market**: Agnico Eagle Mines is one of the leading gold producers, making it attractive in times of market instability and rising gold prices.
3. **Investment Potential**:
- **Safety During Economic Instability**: Gold and gold mining stocks are often reliable assets during economic instability, adding attractiveness for investors.
### Conclusion
Agnico Eagle Mines (AEM) stocks look attractive for purchase at $66.60 - $68.05 with a stop loss at $61.27 and take profits at $75.00 and $80.00. The current technical situation and the company’s fundamental indicators support the idea of buying.
- **Entry Point**: $66.60 - $68.05
- **Reason**: The current price is close to the support level at $66.60, as indicated in the technical analysis. This level is where the price is likely to stop falling and start rising.
#### Stop Loss:
- **Stop Loss**: $61.27
- **Reason**: A stop loss 8% below the entry point ($66.60) to limit losses in case the price moves unfavorably.
#### Take Profit:
- **First Take Profit**: $75.00
- **Reason**: This level corresponds to previous highs and can serve as the first resistance level where the price may stop rising.
- **Second Take Profit**: $80.00
- **Reason**: If the price continues to rise, $80.00 may be the next level to take profits.
### Why It's Worth Buying Now:
1. **Technical Signals**:
- **Return to 10-Week Average**: The price is returning to the 10-week average, which is often a positive signal for buying.
- **Rising Relative Strength (RS) Line**: The RS line is rising and surpassing the short-term downtrend, indicating potential further growth.
2. **Fundamental Indicators**:
- **Earnings Growth**: EPS (earnings per share) is expected to be $3.23 this year, with a projected growth of 11% next year.
- **Strong Position in the Gold Market**: Agnico Eagle Mines is one of the leading gold producers, making it attractive in times of market instability and rising gold prices.
3. **Investment Potential**:
- **Safety During Economic Instability**: Gold and gold mining stocks are often reliable assets during economic instability, adding attractiveness for investors.
### Conclusion
Agnico Eagle Mines (AEM) stocks look attractive for purchase at $66.60 - $68.05 with a stop loss at $61.27 and take profits at $75.00 and $80.00. The current technical situation and the company’s fundamental indicators support the idea of buying.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.