From the Chart, AEM had been hovering near the channel (purple) support, had briefly traded below 250-days Moving Average (yellow MA) and had traded above it today with slightly above average volume. Analysts from CIMB, DBS & Kim Eng had maintained their bullish outlook on the stock and 12-month target prices of $4.63-$5.56. Its near-term support is at $3.20 and next resistance levels are at $4.30 and $4.80.
As usual, this short writeup was broadcast to Clients on 23 Jun 2021 but posted here only on 4 Jul 2021. AEM closed $3.91 on 2 Jul 2021.
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This is an opinion piece. Please always do your own due diligence on the company's fundamentals & assess if the Fundamental / Technical analysis opinions are applicable to your trading/investing needs.
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