AEM 1-2 on the Month, FTC1-2 on the month.
Trigger: 46.98
First Target: 47.68
Second Target: 55.65
Third Target: 60.37
Wait for entry on the Weekly timeframe.
AEM trade ideas
Agnico Eagle Mines: Keep Your Eyes on the Ball! 👀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.
$AEM Posted negative earnings with neutral outlook.$AEM posted lower than expected earnings with the PEAD projection a neutral outlook for the stock as price is currently trading close to the upper boundary.
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Agnico: On Track!Despite smaller counter movements, Agnico continues to follow our primary scenario. We expect it to fall below the support line at $45.42, which should confirm further descent below the next support at $31.03. However, there is a 32% chance that Agnico could chose the other direction and cross the resistance at $74.50, thus reinforcing upwards movement above the next resistance at $89.16.
Agnico Eagle Mines: Stayed Strong 💪Agnico Eagle has stayed strong and has made it into the blue zone between $63.39 and $71.21 despite a momentary setback. If we now turn up our most motivating playlist, it should even climb a bit higher still to finish wave (b) in blue. Afterwards, Agnico Eagle should turn around and head in the direction of the support at $45.42. It should then fall below this mark, as well as below the next one at $31.03. Still, there is a 35% chance that the course could keep climbing, rising above both the resistance at $74.50 and the one at $89.16.
Agnico Eagle Mines Gold recovery playNYSE:AEM
Long idea for Agnico Eagle Mines as price of gold recovers, albeit slower than my expectations.
Nevertheless, gold price recovery narrative is still in place and you start see some miners reverse their downtrend.
One of these is Agnico Eagle Mines.
On the daily chart, we can see bullish momentum in the positive and negative directional indicators.
$AEM with a slight bearish outlook after earnings #StocksThe PEAD projected a bearish outlook for $AEM after a negative under reaction following its earnings release placing the stock in drift D
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AEM. Looking for Gold miners? Agnico Eagle Mines is your pick!Agnico Eagle Mines ( NYSE:AEM ) is the gold mining company that I picked as a long-term investment over many other miners such as Equinox and Barrick Gold. I picked it based on which countries have USD Swap Lines , an idea explained by Katusa Research in one of his videos on YouTube. I will explain it briefly here. A USD swap line is an open channel between the US Federal Reserve and certain central banks such that the bank can borrow USD at any time almost instantly up to a certain limit (such as $100 billion dollars). This provides the liquidity necessary for those central banks to settle their balance sheets, loans, settle large money transfers and currency conversions, and do other central-bank-y things that you can read online. In practice, what this means is that it is much cheaper and much more reliable for, say, an American gold mining company to realize earnings from its oversees mining operations if those mines were located in Canada or Mexico (USD Swap line countries) rather than if the mines were located in Turkey for example.
You can find here the list of worldwide central banks that have USD Swap Lines, or I can save you time and list them here:
Before CV-19, the US Federal Reserve had standing USD liquidity swap lines with the central banks of the following countries with a ceiling of $100 billion each:
Canada.
England.
Japan.
European Union.
Switzerland.
And on March 20, 2020, the Federal Reserve extended this arrangement to nine more central banks:
$60 billion for each of:
Singapore.
Australia.
Brazil.
Denmark.
South Korea.
Mexico.
and $30 billion to each of:
New Zealand.
Norway.
Sweden.
As it happens, Agnico Eagle Mines has almost all of its revenue coming from mines located in USD Swap Line countries as opposed to Barrick gold which relies on mines located in Argentina, Chile, Cote d’Ivoire, the Congo, Peru, Saudi Arabia, Tanzania, and other similarly Non-USD-swap-line countries. That alone puts me at more ease of mind as an investor. And I recommend that you weigh in this element in all other kinds of investments.
That's it for fundamental analysis. From the technical analysis side, AEM has been struggling with the ascending trend line. I believe this will be long-time support once we settle above it. I see two paths for price which I determined by two things:
1. The long curve which you can see in the following chart:
2. The Linear time cycle of 272 days, which nicely aligned many momentum shifts. We can use as an approximate indicator next to other clues later when we're approaching the next time zone and are looking for signs of reversal or momentum.
The rest is in the chart. I drew two paths and I expect the lowest point to be the support at $55.60. I am more confident in the higher price path that takes us to $175 by April 2022.
Conclusion : This is a long-term investment for those that chose to invest in gold miners. I believe AEM is a solid pick and is set for growth.
AEM - EW analysis - bull case AEM - It is correcting within 2nd subwave which may go down slight more to complete the 2nd subwave of further impulse up. Stay bullish near 67 level with stop level below 62.30 for target above 80 as 3rd wave or 92 as the final sequence up.
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