ELDORADO GOLD CORP (EGO) Technical Analysis
NYSE:EGO • CA2849021035
We assign a technical rating of 9 out of 10 to EGO. In the last year, EGO was one of the better performers, but we do observe some doubts in the very recent evolution.
- In the last month EGO has a been trading in the 36.75 - 48.20 range, which is quite wide. It is currently trading near the lows of this range.
- Prices have been falling strongly lately, it is better to avoid new long positions here.
- When comparing the yearly performance of all stocks, we notice that EGO is one of the better performing stocks in the market, outperforming 96% of all stocks. We also observe that the gains produced by EGO over the past year are nicely spread over this period.
- EGO is one of the better performing stocks in the Metals & Mining industry, it outperforms 72% of 157 stocks in the same industry.
- EGO is currently trading in the upper part of its 52 week range. The S&P500 Index however is currently trading near a new high, so EGO is lagging the market slightly.
- EGO has an average volume of 2426390 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
- The short term trend is negative, but the long term trend is still positive. So although the long term is still positive, this may be a trend turning.
Although EGO has an excellent technical rating, it does not present a decent entry opportunity at the moment. Price movement has been a little bit too volatile to find a nice entry and exit point. It is probably a good idea to wait for a consolidation first.
More info and screens
29.41
When analyzing the support we can see 4 important areas.
- Support @38.29 from a trend line in the daily time frame.
- Support @36.98 from a horizontal line in the daily time frame.
- Support @32.71 from a trend line in the weekly time frame.
- Support @29.71 from a trend line in the weekly time frame.
When analyzing the resistance we notice 2 important areas.
- Resistance @40.78 from a trend line in the daily time frame.
- A resistance zone ranging from 46.24 to 46.43. This zone is formed by a combination of multiple trend lines in multiple time frames.
The Technical Rating and Setup analysis above combine different indicators and trends in different timeframes. Individual signals from indicators may give more contradictive signals and should always be interpreted in the more global context.
| Indicator | Value | Signal | Comment |
|---|---|---|---|
| ChartMill Long Term Trend Indicator | UP | POSITIVE | The long term trend for EGO is up. |
| ChartMill Short Term Trend Indicator | DOWN | NEGATIVE | The short term trend for EGO is down. |
| ChartMill Relative Strength | 96.94 | POSITIVE | EGO has a high relative strength, it outperformed 96.94% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | MIXED | The current price of EGO is below the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | MIXED | The current price of EGO is below the rising SMA(50). |
| Simple Moving Average/SMA (200) | UP | POSITIVE | The current price of EGO is above the rising SMA(200). |
| Relative Strength Index/RSI (14) | 42.97 | NEUTRAL | The RSI value for EGO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.66 | NEGATIVE | The MACD value suggests EGO has a negative trend. |
| Stochastics (14,3) | 13.41 | OVERSOLD | The low Stochastics value suggests EGO may be oversold. |
| Average True Range in percent/ATR (20) | 6.59 | HIGH VOLATILITY | The high ATR as a percentage value for EGO suggests high volalility. |
| Average Directional Index/ADX (14) | 16.71 | NEGATIVE | The low ADX value for EGO suggests a weak or negative trend. |
EGO Technicals: Chart, Performance Metrics, Trend & Indicators
40.47
-1.17 (-2.81%)
ELDORADO GOLD CORP / EGO FAQ
What is the technical rating for EGO stock?
ChartMill assigns a technical rating of 9 / 10 to EGO.
Can you provide the trend direction for ELDORADO GOLD CORP?
The current trend direction for ELDORADO GOLD CORP (EGO) is Bullish.
What is the RSI signal for ELDORADO GOLD CORP (EGO) stock?
ELDORADO GOLD CORP (EGO) has an RSI value of 42.9653. This indicates that the stock is currently neutral.
What is the MACD signal for EGO stock?
The MACD indicator for ELDORADO GOLD CORP (EGO) has a value of -0.655221, indicating a bearish trend.
Can you provide the buy/sell signal for ELDORADO GOLD CORP?
The buy/sell signal for ELDORADO GOLD CORP (EGO) is hold as the short term and long term trends are mixed.