Thursday, June 14, 2007

Agnico-Eagle Mines - flashing the TradeRadar BUY signal

If anyone is interested in gold mining stocks, Agnico-Eagle Mines Limited (AEMLW) is flashing a TradeRadar BUY signal.

AGNICO-EAGLE MINES LTD. is a gold producing company and is involved in the acquisition, exploration and development of precious metal properties. The company's operations are located principally in Northwestern Quebec, with exploration and development activities in Quebec, Ontario, Mexico and Nevada, U.S.A.

I can't say that I have any expertise at all in analyzing gold mining stocks. In checking the charts of some stocks with potentially bullish options activity, I came across AEMLW and took a look at it using the TradeRadar software. Based on a time period starting in December, it gave a BUY signal just last week. Not the strongest signal but good enough to give the green light in the TradeRadar dashboard. You can see a pretty clear signal peak has formed in the bottom chart in the image below.



The stock trades on the Toronto Stock Exchange and the New York Stock Exchange and closed at $17.3999 today.

Get more information on AEMLW at the web site of the Canadian newspaper The Globe and Mail by clicking on the following link: Info on AEMLW.



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