Look like it is right at the support level with a flag, and is on a uptrend, short-term at least get up to $3.0 level. Major resistence may be at $3.4.
Here is chart.
nice pick.. but I see the following:
a break out of a symmetrical triangle confirmed by volume, it's currently testing the former resistance of the triangle. If it will hold it would be a valid break out with a lot of potential.
Strong support at $2.70 and closed at 2.75 with 2x volume.
looks like today will be important..
to bad I can't trade this stock with my broker in the Netherlands ;)
Quote from: cmshop on August 09, 2005, 05:04:24 PM
Strong support at $2.70 and closed at 2.75 with 2x volume.
Interesting pick and good analysis. Applause.
Yesterday's Doji Star hammer (needs upside confirmation) looks to be a re-validation of the up trendline that you mentioned in your first post. That trendline got violated on an intraday basis on August 1, but it held at the close. Yesterday's low was about dead on it (maybe a penny off), re-validating it as support.
EGO could have some nice upside if it can take out 3.12 on good volume.
Up 4% holding above 2.80 now.
It is above 3.00 now.
Quote from: cmshop on August 11, 2005, 09:39:43 AM
It is above 3.00 now.
Yeah, it's up nicely today. Good call. Applause.
It hit 3.11. I'd like to see it take out 3.12, the August 3 high and the pattern breakout, on volume.
Look like it is a winning trade. It closed at 3.17 today. May move higher. But I don't know if it retrace a little before it goes higher. In several days, it gets about 16% gain. ANX is kind of like EGO several days ago when I posted, doesn't it?
Profile:
Eldorado Gold Corporation based in Vancouver Canada is an international gold producing company active in development and exploration. The Company's shares trade on the Toronto Stock Exchange under the symbol ELD and on the American Stock Exchange under the symbol EGO. ELD is on the S&P/TSX Gold Index and EGO was added to the AMEX Gold BUGS Index - HUI on June 21, 2004. The Company has superior gold assets in Brazil and Turkey; two countries that we believe have substantial geological potential. Production in 2003 from our 100% owned São Bento Mine in Brazil was 95,049 ounces of gold at a cash cost of US$234/oz. Forecasted production for 2004 is 85,000 ounces of gold at a cash cost of US$270/oz. São Bento has produced more than 1.5 million ounces of gold since 1987. At Sâo Bento 2003 proven and probable reserves are 506,190 ounces; measured and indicated resources are 616,714 ounces.
A rectangle is a chart pattern that contains price movements between two parallel lines. they usually horizontal but can sometimes slant up or down. You need at least four points to draw a rectangle: the upper line connects two rally tops, and the lower line connects two bottoms. these lines should be drawn through the edges of congestion areas rather than across the extreme highs and lows.
As you can see from the chart below, Bulls obviously won the battle within the rectangle & backed by high volume recently... i believe EGO will make new highs in the coming days & weeks ;)
EGO...rising!! hits new high... i'll keep holding my EGO :D ;D
UPDATED CHART:
GOLD stocks are rocketing ...gold index hovering @ $515
Four Gold Stocks to Avoid
Wednesday November 23, 6:00 am ET
By Parvathy Krishnan, CFA
Gold prices have been skyrocketing recently, continuing the secular bull market in gold that started in 2001. After starting the year at $420 per ounce, gold prices have rallied to within shouting distance of $500 per ounce, levels not seen since the late 1980s. Not surprisingly, gold bugs feel vindicated, and the metal and its producers have been getting a lot of attention from the financial press and potential investors.
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So, is this a time to invest in gold, gold stocks, gold mutual funds, or gold exchange-traded funds? My colleague Michele Gambera has some interesting thoughts on this subject. As value-oriented investors, we at Morningstar believe in buying assets at a discount to their intrinsic value and waiting patiently for prices to recover. The metal has been justifiably touted, though, as an inflation hedge and portfolio diversifier. However, gold stocks, while highly correlated with gold, carry additional baggage that may offset some of their diversification and inflation-hedge benefits. As I've written before, gold miners are plagued with rising costs, lack of control over the price of their product, and few product differentiation opportunities. It follows that most gold producers have no competitive advantage, or economic moat, and their returns on invested capital trail their cost of capital.
Historically high prices, no moat, poor returns on invested capital--these are all reasons we find the sector in general quite unattractive at this time. It is not surprising that most gold stocks today get our 1-star rating.
Having said that, there are a few gold producers of whom we are particularly wary because they expose the investor to additional risks for one of several reasons. First, these stocks tend to have higher-than-average operational risk. This is a characteristic of small, undiversified producers whose output relies on a small group of mines or even a single mine. Because this is the case, a small operational glitch could severely affect overall production and revenue. Second, extraction costs at these companies tend to be above average. High costs are very undesirable in a price-taker's market like gold because it means producers will be among the first to incur losses if commodity prices take a dive. Indeed, even with the price of gold at the current high levels, three of these four companies we have singled out below have posted losses so far this year. Finally, our less desirable companies tend to have operations in politically unstable countries, adding geopolitical risk.
Cambior (AMEX:CBJ - News)
Three of Cambior's four mines (one in Guyana and two in Canada) are high-cost operations. Costs at the fourth mine--Rosebel in Suriname--are not substantially below average. The company's extraction costs in 2004 were $257 an ounce, compared with the industry average of about $250. Cambior is also subject to a high level of operational risk due to its small number of mines. For example, milling operations have been suspended at Rosebel this week due to a leakage. Because Rosebel produces about half of the company's gold, a stoppage here, even if temporary, will have a big adverse impact on overall production and revenue. Finally, Cambior's debt--at 12% of total capital--is relatively high for a gold producer. Paying down debt during flush times, like now, is considered a best practice in the mining industry. However, Cambior has been only marginally profitable so far in 2005, and the company has not brought down its debt level during the year. When gold prices fall and profits turn to losses, servicing this debt might become a burden the firm cannot bear, given its high operation costs.
Bema Gold (AMEX:BGO - News)
Bema operates two mines--one in Russia and one in South Africa. While the economics of the Russian mine are respectable with slightly below-average cash costs, the South African operation has been a drag on profits and cash flow since Bema started mining there in 2003. However, instead of improving profitability at its existing operations, the company is intent on raising production from about 290,000 ounces projected for 2005 to 1 million ounces. Given the lack of cash flow from operations, Bema has been forced to raise additional equity and debt capital to fund its exploration and expansion projects. As a result, Bema has one of the weakest balance sheets in the gold mining industry. Negative free cash flow, a weak balance sheet, and uncertain prospects make an investment in Bema little more than a speculative bet on the company's future, in our opinion.
Hecla Mining (NYSE:HL - News)
Given all the risks at Hecla--a relatively small production base in unattractive countries, future production not growing as much as expected, commodity prices not cooperating, as well as more financing and environmental charges--an investment in these shares remains highly speculative.
DRDGold (NasdaqSC:DROOY - News)
Mining gold in South Africa is a high-cost business that started more than a century ago. As more gold is mined, mines get deeper and costs generally rise. In addition, older technology and strong labor unions in South Africa also contribute significantly to the high costs prevalent in that country. Even by South African standards, DRDGold is saddled with relatively high cost and older mines. While recent efforts at operational improvements mean that DRDGold is less of a "cigar-butt investment" than before, we do not think the company is out of the woods. Even with all the improvements, we still expect the company's cash costs to be more than $300 per ounce, compared with the industry average of around $250 per ounce. For DRDGold to consistently turn a profit, gold must trade at prices comfortably above the firm's operating costs and relevant currency-exchange rates must cooperate. As a commodity producer, DRDGold has little influence over either of these factors because it is a price-taker in both the gold and the foreign-exchange markets.
Should gold prices fall precipitously in the next year or two, something that is not inconceivable, these companies will be among the first to suffer.
also worth mention is that EGO has a jump out gap around $3.6 on its daily chart. looks good.
(http://bigcharts.marketwatch.com/charts/big.chart?symb=ego&compidx=aaaaa%3A0&ma=1&maval=20%2C50&uf=0&lf=268435456&lf2=0&lf3=0&type=4&size=2&state=8&sid=48556&style=320&time=7&freq=1&nosettings=1&rand=1970&mocktick=1)
Where is ur ego now? 52 WEEK HIGH baby!!
Today a White Opening Marubozu was formed. This shows that the day opened and then the prices continued to go up all day long without coming below the opening level thus forming a long white body, however prices did not close at the high of the day and thus they created an upper shadow.
Still rising...riding my EGO up & down ;) will sell when my price hit ;) :D ;D
Still holding my EGO.. not ready to sell yet ;)
---> So far, sitting @ 22.59% profit ;)
Again, EGO re-fresh the 52week high ;) :D
Selling EGO tomorrow morning... Don't let the profit slip away, currently 27.53% profit
Amex Gold Bugs Index at a record again
Meanwhile, indexes tracking the metals and mining sector climbed along with the metals futures, following minor losses in Thursday's session. The strength sent the Amex Gold Bugs Index to a new record.
The Amex Gold Bugs Index (HUI:
amex gold bugs index equal-$ weight
News, chart, profile, more
Last: 310.34+11.02+3.68%
4:03pm 01/13/2006
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HUI310.34, +11.02, +3.7%) closed at a new record of 310.34, gaining 3.7% for the session to end the week 1.7% higher. Shares of Hecla Mining (HL: Hecla Mining Company
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Last: 4.40+0.24+5.77%
3:55pm 01/13/2006
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HL4.40, +0.24, +5.8%) climbed 5.8% to close at $4.38 Friday, and Coeur d'Alene Mines (CDE: Coeur d'Alene Mines Corporation
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Last: 4.39+0.21+5.02%
3:55pm 01/13/2006
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Up to $100 cash at AmeritradeCDE4.39, +0.21, +5.0%) moved 5% higher to finish at $4.34. Bema Gold's (BGO: Bema Gold Corporation
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Last: 3.77+0.14+3.86%
3:55pm 01/13/2006
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BGO3.77, +0.14, +3.9%) stock rose 3.9% to end at $3.77.
The Philadelphia Gold/Silver Index (XAU:
phlx gold silver index capital-weight
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Last: 141.97+4.38+3.18%
4:03pm 01/13/2006
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XAU141.97, +4.38, +3.2%) finished Friday at 141.97, up 3.2% for the day and up 1.5% from the week-ago close, and the CBOE Gold Index (GOX: CBOE Gold Index
News, chart, profile, more
Last: 133.27+3.75+2.90%
4:50pm 01/13/2006
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GOX133.27, +3.75, +2.9%) rose 2.9% for the session, up 1% for the week, to close at 133.27.
Myra P. Saefong is a reporter for MarketWatch in San Francisco.
More METALS STOCKS
• Spot prices for gold tap $562 an ounce 11:02am ET 01/16/06
• Gold retreats, but ends above the day's worst level 4:17pm ET 01/12/06
• Gold closes above $550; analyst sentiment is upbeat 2:11pm ET 01/11/06
• Gold futures finish with a nearly $5-an-ounce loss 4:24pm ET 01/10/06
• Gold futures end above $550-an-ounce level 4:29pm ET 01/09/06
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Repost From The Technical Analysis Board - Ascending Triangles:
The technical breakout of the Bull Flag for today was a print of 4.70. The high today is 4.73.
This looks like a nice two-month bullish consolidation/continuation breakout. A print of 4.77, above the top of the Symmetrical Triangle, would look real nice.
EGO has backed off from the breakout and currently is BID 4.64...ASK 4.65.
Sorry, I'm having trouble posting charts today. ???
Try again.
Quote from: Melf Elf on March 03, 2006, 02:26:31 PM
A print of 4.77, above the top of the Ascending Triangle, would look real nice.
EGO has backed off from the breakout and currently is BID 4.64...ASK 4.65.
It didn't take out 4.77, and instead sold off to the bottom of the triangle this morning.
Bought EGO at 4.24, a penny above the bottom of the Ascending Triangle. Stop: a PRINT of 4.16, a penny below the last low of 4.17. Risk: a loss of 2%.
EGO currently is BID 4.27..ASK 4.28
Quote from: Melf Elf on March 06, 2006, 12:56:15 PM
[Bought EGO at 4.24, a penny above the bottom of the Ascending Triangle. Stop: a PRINT of 4.16, a penny below the last low of 4.17. Risk: a loss of 2%.
Stopped it out at 4.16. Loss: 1.9%.
Chart still looks bullish, but my reason for buying it (the bottom of the Ascending Triangle) no longer is valid. Sold.
EGO currently is BID 4.20...ASK 4.21
2 Breakway gaps confirmed, another one this morning ;)
Hi,
SELL this stock :
Technical analysis :
1. Double top -> end of uptrend
2. 5 elliott waves on last major uptrend
3. Rectangle breakout
4. Long red day
5. Close < MA(200)
A lot gold stocks is going up now, EGO is one of them again ;)
Quote from: Terliso on November 24, 2006, 04:56:57 PM
A lot gold stocks is going up now, EGO is one of them again ;)
Watch gold stocks my friends ;)
EGO still consolidating between $5.50 & $5.60
My EGO hit a new 52 week high ;)
"EGO" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Thank You....and good luck with all your trades....make some $$$ 8)
I'm very bullish in gold ;)
EGO is now trading at all-time high ;)
Eldorado Gold Announces 2006 Financial Results Release Date and Conference Call
Wednesday February 21, 9:00 am ET
VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Feb 21, 2007 -- Eldorado Gold Corporation (Toronto:ELD.TO - News)(AMEX:EGO - News) will release its 2006 Financial Results before markets open on Friday, March 23, 2007. Following the release, Paul Wright, President and Chief Executive Officer of the Company, will host a conference call at 8:00 AM PT (11:00 AM ET) on March 23, 2007.
The call is being webcast by CCBN and can be accessed at Eldorado Gold's web site at www.eldoradogold.com or from www.ccnmatthews.com.
Just hit bottom, a buy here at $5.60 target $8.50
"EGO" Threads have been Merged......."Again"
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::)
Thank You....and good luck with all your trades....make some $$$ ;)
The article is great.......
Gold stocks will continue to shine...
Barring a major reversal in the world order, such as China's bubble economy collapsing, or the US economy's balance of payments rising and debts reducing, the chances are very strong that precious metals, especially gold, will continue to climb this year. In other words, gold stocks seem to be the surest bet there is....you can see the economics clearly laid out along the yellow brick road, and it is paved with gold!
The reason gold fell on Thursday was that most traders anticipated the events I mentioned would happen on Wednesday and Thursday (between central banks), and thus we had a big rally for the two days prior to Thursday...Thursday was actually profit-taking in gold...but also, now is a good time to enter, and hold and watch the profits come in over the next few months.
I have seen a few traders say that gold has topped for the foreseeable future....I say they are wrong...gold has not even reached 50% of where it is ultimately headed, I believe. ACE
From the Financial Times website:
Central banks signal fight on inflation
By Chris Giles in London and Ralph Atkins in Dublin
Published: May 10 2007 12:45 | Last updated: May 10 2007 19:53
European central bankers on Thursday signalled that they would act to control inflationary pressures across the Continent as the Bank of England raised interest rates and the European Central Bank indicated it would move rates higher in June.
Jean-Claude Trichet, ECB president, committed the ECB to "strong vigilance" – a phrase widely understood to mean an interest rate rise is a month away. Eurozone interest rates are currently 3.75 per cent.
The Bank of England increased its main interest rate by a quarter point to 5.5 per cent, its highest rate in six years, citing strong business investment and "signs that businesses are more able to push through price increases".
With the US Federal Reserve reiterating its main concern that "inflation will fail to moderate as expected" on Wednesday and the Bank of Japan's governor on Thursday making the case for gradual increases in interest rates, all the world's big central banks have now flagged that their primary focus remains the control of inflation.
Economists expect the peak of the current European interest rate cycle to come this year but markets still think there is a good chance of another rise in the UK and a further rise in the eurozone after June's increase.
Commenting after a meeting of the ECB's governing council in Dublin, Mr Trichet said "upside risks" to inflation remained, citing increasing capacity utilisation and the threat of high wage deals.
But there were signs that higher interest rates in the 13-country eurozone are already having an effect, Mr Trichet added. Higher interest rates were influencing money and credit data watched closely by the ECB as longer term inflation indicators, "although they have not, as yet, significantly dampened the overall strength of these dynamics".
Mr Trichet deliberately left the door open for further rises beyond June – financial markets see a good chance of another quarter point rise, to 4.25 per cent, by the end of the year.
Asked aboutthe ECB's intentions beyond June, he said: "I will only say that we will do whatever is necessary to ensure price stability."
In London, the Bank of England took the widely expected decision to raise rates by a quarter point. It highlighted strong business investment and the growing desire and ability of companies to raise prices.
Symmetrical Triangle (continuation) Pattern
Above the 50-day and Oversold.......
Stochastic rising out of oversold.
MACD bouncing north very nicely off the center line.
52wk Range: 3.82 - 6.55
Volume: 1,390,209
Avg Vol (3m): 1,262,730
Technicals
13-day EMA Cross Above 50-day MA
Close Above the 50-day MA
Percentage Gainer
Last Price Quote is:
6.70%above 13-day MA
7.53%above 50-day MA
RS Rating: 65
Fundamentals
Key Data:
Market Cap (M): $784.59
P/E Ratio: NA
PEG Ratio: 0.26
Next Earnings: 08/09/2007
Last Analyst Rating: Outperform
Breaking out to new highs ;)
big breakout
We miss out on much action...When we don't have any updates.
It's hard to take care of my business and to keep everything on top here!
Sorry for the lack of help!! >:( :( :o ::) :-[ :'(
52wk Range: 2.38 - 9.34
Volume: 4,285,156
Avg Vol (3m): 2,624,950
Market Cap: 3.30B
P/E (ttm): 58.95 x
EPS (ttm): 0.15
Div & Yield: N/A (N/A)
Technicals
Percentage Gainer
Last Price Quote is:
8.64%above 13-day MA
22.03%above 50-day MA
RS Rating: 96
Fundamentals
Analyst Downgrade to Neutral
Key Data:
Market Cap (M): $784.59
P/E Ratio: NA
PEG Ratio: 7.24
Next Earnings: 04/23/2009
Last Analyst Rating: Neutral
Company is in good financial condition and is buying up smaller producers that have proven gold resources.
Good luck! EGO is trying to get back above $9.00 again today...there is still time to get in up until about $9.10 and reasonably guarantee a safe trade. Once over $9.10, it can still rally hard to $10 or higher, but a trader who misses this buy point might want to wait until it pulls back to at least its 20 dma line...once it is beyond $9.10, that is. IMHO!
When EGO closed above its $8.59 pivot point! It's officially in breakout mode!
One of the best performing mining stocks recently. Read a prediction that gold and silver could be explosive (up) soon.
It's in breakout today...
Classic break through the top of the base.......stay with it!
Technicals
Record Price High
Record Price Break Out