Eldorado Gold Corporation Stock Forecast
Eldorado Gold Corporation stock price up 3.07% on Thursday
(Updated on Apr 25, 2024)
The Eldorado Gold Corporation stock price gained 3.07% on the last trading day (Thursday, 25th Apr 2024), rising from $14.34 to $14.78. During the last trading day the stock fluctuated 4.28% from a day low at $14.24 to a day high of $14.85. The price has fallen in 7 of the last 10 days and is down by -5.26% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 841 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $23.26 million.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 35.63% during the next 3 months and, with a 90% probability hold a price between $17.56 and $22.38 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
EGO Signals & Forecast
The Eldorado Gold Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $14.68 and $14.08. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -5.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Eldorado Gold Corporation stock
Eldorado Gold Corporation finds support from accumulated volume at $14.77 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.610 between high and low, or 4.28%. For the last week, the stock has had daily average volatility of 2.73%.
Our recommended stop-loss: $14.04 (-5.00%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 12 days ago.)
Trading Expectations (EGO) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Eldorado Gold Corporation to open at $14.62, and during the day (based on 14 day Average True Range), to move between $14.28 and $15.28, which gives a possible trading interval of +/-$0.502 (+/-3.40%) up or down from last closing price. If Eldorado Gold Corporation takes out the full calculated possible swing range there will be an estimated 6.80% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $14.77 (0.07%) than the resistance at $15.12 (2.30%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
Eldorado Gold Corporation will release earnings AMC on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.150. We will update the financials statements for Eldorado Gold Corporation, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 4.65% in the first trading day after earnings release.
Is Eldorado Gold Corporation stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Eldorado Gold Corporation stock to perform well in the short-term.
Current score: 1.758 Buy Candidate Unchanged
Predicted Opening Price for Eldorado Gold Corporation of Friday, April 26, 2024
Fair opening price April 26, 2024 | Current price |
---|---|
$14.62 ( 1.06%) | $14.78 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for EGO
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.23 | 3.07 % | |
R2 | 15.00 | 1.49 % | ||
R1 | 14.86 | 0.517 % | ||
Current price: | 14.78 | |||
Support | S1 | 14.39 | -2.64 % | |
S2 | 14.25 | -3.61 % | ||
S3 | 14.01 | -5.19 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 15.66 | 5.95 % | |
R2 | 15.14 | 2.44 % | ||
R1 | 15.12 | 2.30 % | ||
Current price | 14.78 | |||
Support | S1 | 14.77 | -0.0677% | |
S2 | 12.21 | -17.39% | ||
S3 | 11.80 | -20.16% |
EGO Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 24, 2017 | Mar 03, 2017 | Dec 31, 2018 | $0.0750 | 2.60% |
2 | Jul 31, 2015 | Aug 13, 2015 | Aug 26, 2015 | $0.0400 | 0.278% |
3 | Jan 22, 2015 | Jan 29, 2015 | Feb 16, 2015 | $0.0400 | 0.162% |
4 | Aug 01, 2014 | Aug 13, 2014 | Aug 26, 2014 | $0.0450 | 0.110% |
5 | Jan 17, 2014 | Jan 29, 2014 | Feb 14, 2014 | $0.0450 | 0.126% |
FAQ
Click here for our free guide on how to buy Eldorado Gold Corporation Stock.