ELDORADO GOLD CORP (EGO)       9.35  -0.18 (-1.89%)

9.35  -0.18 (-1.89%)

CA2849021035 - Common Stock - After market: 9.35 0 (0%)

Technical Rating

8

We assign a technical rating of 8 out of 10 to EGO. Although EGO is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.



Both the short term and long term trends are positive. This is a very positive sign.
EGO is one of the better performing stocks in the Metals & Mining industry, it outperforms 86% of 984 stocks in the same industry.
EGO has an average volume of 1653670 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
When comparing the yearly performance of all stocks, we notice that EGO is one of the better performing stocks in the market, outperforming 92% of all stocks. However, this overall good ranking is mostly due to the recent strong move.
EGO is currently trading in the middle of its 52 week range. This is in line with the S&P500 Index, which is also trading in the middle of its range.
In the last month EGO has a been trading in the 8.56 - 9.98 range, which is quite wide. It is currently trading in the middle of this range, so some resistance may be found above.

Statistics

1 Month 3 Months 6 Months 12 Months 7.59% 50.56% 54.55% 3.54% SMA(20) SMA(50) SMA(100) SMA(200) RS 52 Wk Range ST Trend LT Trend 92.59 5.06 - 12.4851
EGO Weekly chart
EGO Daily chart

Support/Resistance Analysis


9.12

12.00
When analyzing the support we notice one important area.
  • A support zone ranging from 9.21 to 9.34. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
When analyzing the resistance we notice 2 important areas.
  • A resistance zone ranging from 9.49 to 9.52. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
  • Resistance @11.88 from a horizontal line in the weekly time frame.

Setup Analysis

Setup Rating

6

Besides having an excellent technical rating, EGO also presents a decent setup pattern. Prices have been consolidating lately. There is a support zone below the current price at 9.34, a Stop Loss order could be placed below this zone.


Possible Trading Setup

Given the decent technical rating and the setup score, we can suggest the following trade.


ENTRYEXITDISTANCECAPITAL
9.539.200.33 (3.46%)25.00%
An entry @9.53. This is a Buy Stop order right above the resistance zone.An exit @9.20. This is a Stop Loss order right below the support zone.The worst case loss on the trade is limited to 0.33 points, which is 3.46%.When investing 25.00% of your capital in this trade, your total portfolio risk will be 0.87%.

  • The distance between exit and entry is rather small compared to the average daily movement of EGO. Please evaluate whether better entry and exit points can be found.
  • The generated setup is based on the nearest support and resistance areas. If you are looking for a more long term trade, probably a wider stop is advisable.
  • This trade setup was generated fully automatically and should not be interpreted as trading advice. Always check the related news for upcoming earnings or other events. Make your own analysis and trade at your own responsibility.
EGO Daily chart

ELDORADO GOLD CORP9.35

NYSE:EGO (2/3/2023, 7:04:00 PM)-0.18 (-1.89%)

After market: 9.35 0 (0%)

Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS Sector Materials
GICS Industry Metals & Mining

Performance
Today -1.89% 1 Week -1.37%
2 Weeks 2.07% 1 Month 7.59%
3 Month 50.56% 6 Month 54.55%

Volatility
ATR(14) 0.37 ATR(20)% 3.94%
ATR Inc 47.56% Range Today 0.36

Trend & SMA
ST Trend LT Trend
SMA(5) SMA(10)
SMA(20) SMA(50)
SMA(100) SMA(200)

Relative Strength & Ranges
CRS 92.59 Mansfield 1.38
10 Day High 9.98 10 Day Low 8.99
20 Day High 9.98 20 Day Low 8.56
52 Week High 12.49 52 Week Low 5.06
CS1 End 9.34 CR1 Start 9.49

Volume & EV
DER(3) 0.09% DER(5) -0.04%
Volume 1.97M Volume Incr -5.12%
Vol(5) 1.51M Vol(50) 1.65M

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