ELDORADO GOLD CORP (EGO) Stock Technical Analysis
NYSE:EGO - New York Stock Exchange, Inc. - CA2849021035 - Common Stock - Currency: USD
Overall EGO gets a technical rating of 10 out of 10. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, EGO is showing a nice and steady performance.
The long and short term trends are both positive. This is looking good!
Looking at the yearly performance, EGO did better than 91% of all other stocks.
EGO is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so EGO is leading the market.
EGO is currently showing a bull flag pattern! A bull flag pattern occurs when prices pull back slightly after a strong rise up. This may be a nice opportunity for an entry.
EGO has an average volume of 2169280 traded shares per day. This is a good sign as it is always nice to have a liquid stock.
EGO is part of the Metals & Mining industry. There are 154 other stocks in this industry, EGO did better than 67% of them.
Besides having an excellent technical rating, EGO also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. A pullback is taking place, which may present a nice opportunity for an entry. There is a support zone below the current price at 20.79, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.
- A Pocket Pivot is a price/volume accumulation pattern. A Pocket Pivot occurs when price moves up with volume higher than the maximum down volume registered in the previous 10 days.
More info and screens
14.32
21.73
We found 4 important support areas.
- A support zone ranging from 20.68 to 20.79. This zone is formed by a combination of multiple trend lines and important moving averages in the daily time frame.
- A support zone ranging from 19.21 to 19.70. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.
- Support @17.85 from a horizontal line in the weekly time frame.
- Support @14.46 from a trend line in the weekly time frame.
We found 1 important resistance area.
- A resistance zone ranging from 21.18 to 21.51. This zone is formed by a combination of multiple trend lines and important moving averages 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 | UP | POSITIVE | The short term trend for EGO is up. |
| ChartMill Relative Strength | 91.9 | POSITIVE | EGO has a high relative strength, it outperformed 91.9% off all stocks on the market. |
| Simple Moving Average/SMA (20) | UP | POSITIVE | The current price of EGO is above the rising SMA(20). |
| Simple Moving Average/SMA (50) | UP | POSITIVE | The current price of EGO is above 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) | 57.42 | NEUTRAL | The RSI value for EGO is a neutral value. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.05 | NEGATIVE | The MACD value suggests EGO has a negative trend. |
| Stochastics (14,3) | 68.25 | NEUTRAL | The Stochastics value for EGO is a neutral value. |
| Average True Range in percent/ATR (20) | 2.77 | MEDIUM VOLATILITY | The ATR as a percentage value for EGO suggests some volalility. |
| Average Directional Index/ADX (14) | 30.87 | POSITIVE | The high ADX value value for EGO suggests a strong trend. |
Daily CandleStick Patterns
Bullish Engulfing (D)
Bullish Hammer (D)
Bearish Inverted Hammer (D)
Hanging Man (D)
Bullish Harami (D)
Doji (D)
Gravestone Doji (D)
DragonFly Doji (D)
Bearish Engulfing (D)
Bearish Shooting Star (D)
Bearish Harami (D)
Inside Bar (D)
Red Dog Reversal Down (D)
Red Dog Reversal Up (D)
Dark Cloud Cover (D)
Weekly CandleStick Patterns
Bullish Engulfing (W)
Bullish Hammer (W)
Bearish Inverted Hammer (W)
Hanging Man (W)
Bullish Harami (W)
Doji (W)
Gravestone Doji (W)
DragonFly Doji (W)
Bearish Engulfing (W)
Bearish Shooting Star (W)
Bearish Harami (W)
Inside Bar (W)
Dark Cloud Cover (W)
Daily Chart Patterns
Bull Flag
Bear Flag
Ascending Triangle (D)
Descending Triangle (D)
Symmetrical Triangle (D)
Squeeze
Channel (D)
Channel Up (D)
Channel Down (D)
Rising Wedge (D)
Falling Wedge (D)
Double Bottom (D)
Multiple Bottom (D)
Double Top (D)
Multiple Top (D)
Weekly Chart Patterns
Weekly Bull Flag
Weekly Bear Flag
Squeeze Week
Channel (W)
Double Bottom (W)
Multiple Bottom (W)
Double Top (W)
Multiple Top (W)
Important!: this is just an example which is fully automatically generated based on the analysis above and should in no way be interpreted as a suggestion. Always make your own analysis and determine your own entry and exit points.
| ENTRY | EXIT | DISTANCE | CAPITAL |
|---|---|---|---|
| 21.52 | 20.67 | 0.85 (3.95%) | 25.00% |
| An entry @21.52. This is a Buy Stop order right above the resistance zone. | An exit @20.67. This is a Stop Loss order right below the support zone. | The worst case loss on the trade is limited to 0.85 points, which is 3.95%. | For a 0.99% total portfolio risk, you can invest 25.00% of your capital in this trade. |
- 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.
20.93
-0.23 (-1.09%)
Chartmill TA Rating
Chartmill Setup Rating
Sector
GICS SectorMaterials
GICS IndustryMetals & Mining
Performance
% Chg-1.09%
1 Week-0.48%
2 Weeks-0.1%
1 Month8.33%
3 Month33.82%
6 Month37.79%
12 Month39.53%
2 Year107.23%
3 Year227.54%
5 Year115.77%
10 Year1.11%
15 Year-76.69%
Volatility
ATR(14)0.61
ATR(20)%2.77%
ATR Inc-21.03%
Range Today0.57
ADR(20)0.53
ADR(20)%2.51%
Trend & SMA
ST Trend
LT Trend
SMA(5)
SMA(10)
SMA(20)
SMA(50)
SMA(100)
SMA(200)
Relative Strength & Ranges
CRS91.9
Mansfield1.92
10 Day High21.79
10 Day Low20.66
20 Day High21.79
20 Day Low19.29
52 Week High21.79
52 Week Low13.29
CS1 End20.79
CR1 Start21.18
Volume & EV
DER(3)-0.06%
DER(5)1.19%
Volume1.73M
Volume Incr16.49%
Vol(5)2.10M
Vol(50)2.17M