Shares of Eldorado Gold Corp (EGO) have seen the needle move -5.09% or -0.17 in the most recent session. The NYSE listed company saw a recent bid of $3.17 on 3749985 volume.
Deep diving into the technical levels for Eldorado Gold Corp (EGO), we note that the equity currently has a 14-day Commodity Channel Index (CCI) of -162.13. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.
Eldorado Gold Corp’s Williams Percent Range or 14 day Williams %R currently sits at -100.00. The Williams %R oscillates in a range from 0 to -100. A reading between 0 and -20 would point to an overbought situation. A reading from -80 to -100 would signal an oversold situation. The Williams %R was developed by Larry Williams. This is a momentum indicator that is the inverse of the Fast Stochastic Oscillator.
Investors who have stayed on the sidelines may be considering if the markets will continue to rally higher. Staying vigilant and watching for signs of the next bear may prove to be a crucial element for helping to guide certain portfolio moves. Keeping an eye on historical corrections as well as sentiment and technicals, may help provide the proper insight needed. Investors may be mindful of any meaningful pullback or correction, and they may have a certain percentage in mind for when things seem to be getting out of hand. Cautious optimism may prove to be a profit saver when the bearish winds start to blow. Investors may need to figure out a plan for when to take some profit off the table. Conducting thorough fundamental research on stocks even after they have broken out may help the investor understand the reason behind the move, and whether it is likely to continue or if it is just a temporary spike.
Currently, the 14-day ADX for Eldorado Gold Corp (EGO) is sitting at 15.18. Generally speaking, an ADX value from 0-25 would indicate an absent or weak trend. A value of 25-50 would support a strong trend. A value of 50-75 would identify a very strong trend, and a value of 75-100 would lead to an extremely strong trend. ADX is used to gauge trend strength but not trend direction. Traders often add the Plus Directional Indicator (+DI) and Minus Directional Indicator (-DI) to identify the direction of a trend.
The RSI, or Relative Strength Index, is a widely used technical momentum indicator that compares price movement over time. The RSI was created by J. Welles Wilder who was striving to measure whether or not a stock was overbought or oversold. The RSI may be useful for spotting abnormal price activity and volatility. The RSI oscillates on a scale from 0 to 100. The normal reading of a stock will fall in the range of 30 to 70. A reading over 70 would indicate that the stock is overbought, and possibly overvalued. A reading under 30 may indicate that the stock is oversold, and possibly undervalued. After a recent check, the 14-day RSIfor Eldorado Gold Corp (EGO) is currently at 38.76, the 7-day stands at 29.77, and the 3-day is sitting at 13.10.
