ELDORADO GOLD CORP (EGO) Stock Technical Analysis
USA - New York Stock Exchange - NYSE:EGO - CA2849021035 - Common Stock
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.
EGO has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is very little resistance above the current price. 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
27.03
We found 5 important support areas.
- A support zone ranging from 36.88 to 36.96. 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 35.41 to 35.41. This zone is formed by a combination of multiple trend lines in multiple time frames.
- Support @29.57 from a trend line in the weekly time frame.
- Support @28.00 from a trend line in the daily time frame.
- Support @27.30 from a trend line in the weekly time frame.
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 | 96.41 | POSITIVE | EGO has a high relative strength, it outperformed 96.41% 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) | 70.96 | OVERBOUGHT | The high RSI value suggests EGO may be overbought. |
| Moving Average Convergence Divergence/MACD (12, 26, 9) | -0.02 | NEGATIVE | The MACD value suggests EGO has a negative trend, although the MACD value is rising. |
| Stochastics (14,3) | 94.58 | OVERBOUGHT | The high Stochastics value suggests EGO may be overbought. |
| Average True Range in percent/ATR (20) | 3.75 | MEDIUM VOLATILITY | The ATR as a percentage value for EGO suggests some volalility. |
| Average Directional Index/ADX (14) | 30.49 | POSITIVE | The high ADX value value for EGO suggests a strong trend. |
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 |
|---|---|---|---|
| 38.86 | 36.87 | 1.99 (5.12%) | 19.53% |
| An entry @38.86. This is a Buy Stop order right above the 10 day high. | An exit @36.87. This is a Stop Loss order right below the support zone. | The trade has a worst case loss of 1.99 points, which is 5.12%. | When investing 19.53% of your capital in this trade, your total portfolio risk will be 1.00%. |
- 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.
38.28
+0.36 (+0.95%)
ELDORADO GOLD CORP / EGO FAQ
What is the technical rating for EGO stock?
ChartMill assigns a technical rating of 10 / 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 70.9645. This indicates that the stock is currently overbought.
What is the MACD signal for EGO stock?
The MACD indicator for ELDORADO GOLD CORP (EGO) has a value of -0.0234905, 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 buy as both the short term and long term trends are positive.