EGO trade ideas
EGO trend reversal, looks very bearishEGOs run seems to be over for now, it had produced a continuation gap (bearish candlesticks), but that alone isn't enough to make a confirmation. After today with the 10% drop on shelf offering news.. it formed a bearish engulfing candle. Bearish engulfing also alone by itself is not enough to say bearish also.. so you look for volume confirmation. It seems we have that Double up those two candlestick patterns, along with gold making a pullback after breaking 1500... seems bearish too me. Trimmed position yesterday and will most likely close positions totally, or buy some short term puts. News seems to be coming with Skouries permit, so if that drops soon then its game on again. GLTA
EGO / ELD Possible PullbackThis is getting a little top heavy right now with the RSI (5) and MACD showing signs of a short term pullback brweing. Volume has decreased the last couple of days as well which usually means buyers have started to slow down. Anything can happen tomorrow with the FED rate decision however, but ultimately gold prices need to move higher in order to reach and pass the breakout area. I sold my position last week (too soon of course), but readying myself to get back in if we get a pullback to anything under the 200 MA.
EGO on the 15minEarnings out with CC at 11:30am... Australia is rallying hard with gold miners and gold is up big overnight. Earnings were decent but nothing crazy. Hoping for Greek mine updates this morning and we should be off the the races again
bollinger band gave me a buy signal....
upper band 8.32
middle 8.05
lower band 7.78
look at those for pivots or gaining/losing strength
goodluck !!!!!
EGO Looks like it wants to run againIn my previous post, I was bearish on EGO and bought a few puts thinking it was ready to turnover agan. Now watching it after it cooled off and has been; making higher lows the past few days, not breaking the trend line.. I am cautiously bullish. Looks ready for a push into the 8's. I bought some near ITM calls to grab some profit from the next push. More volume would be nice. If not, then the OTM puts will make up for the loss due to the hard pullbacks EGO seems to have. Just letting the trade ride at this point. GLTA
EGO-Daily - Under $5 StocksIt seems that EGO finished its correction and going to start a new rally.
The best Set Up would be a Buy Stop above the point marked with RED ARROW + 1 tik.
In the meantime, if a poll back happens, and price increased, the signal is more valuable.
Very tiny stop loss and very pleasant risk-reward ratio!
In God We Trust.
EGO - Fallen angel formation long from $1.27 to $1.63EGO came out on our fallen angel scan. It is a play on the gold. It has broken down from a long-term downward channel & now seems getting some upward momentum.
We think it has good upside potential from here.
* Trade Criteria *
Date First Found- December 13, 2017
Pattern/Why- Fallen angel
Entry Target Criteria- Current price ($1.27)
Exit Target Criteria- $1.63
Stop Loss Criteria- $1.07
Indicator Notes- Good money flow accumulation
Special Note- Very strong Financial Ratios
Please check back for Trade updates. (Note: Trade update is little delayed here.)
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