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My thoughts are EGO will be offered a merger and or acquistion deal just like BGO (bema Gold)and CGR (Claude Resources) by a tier one operation.
Live long and prosper...
Ain't technical analysis a hoot!?
See how the average volume is 2 to 2.5x !
And how many weeks has it been since we spoke about the start of the cup & handle formation ?
After the cup has formed,expect a momentum rally.
When that ends, usually there is a 15 degree descent,forming the handle before a reversal candle (known as a "harami") confirms the continuation of an uptrend.
Again...all this must be on a daily chart,any other timeframe is not to be trusted.
Textbook cup & handle is one pattern you'll never forget once you actually have your initial positions filled.
So true, mines' baked into the cost basis and calculated for the exit.
Institutional investors only pay less than $.10 for lots of 10,000 or more shares.
How'd you like that close?
Thank you,I've got orders all the way down it.
Here's where I am starting to accumulate
Still building that base
Yes, we will see.
I have'nt dicussed this much technical language in years.
my friends don't listen unless the topic is their home life or sport shows,and I hate to tell them what my balance sheet looks like when they can't even balance their checking account.
Thanks...packing in in for the night. Have work to do at my church tomorrow.
OK.. a highly intelligent trader once said,"we do not trade the markets, we trade our beliefs."
Others can look at the same things as you or I, and believe the stock or market will do only what they have formed as their belief.
Same thing happens with students &teachers,congregation & Pastor,
childre & parents, Republicans & Democrats...etc.
P.S...only on a daily chart, the shorter the time frame,the the less reliable it gets.
once it is confirmed on the daily...you can then use a 2,3.5 yr. chart for longer horizens.
Yes it does...as does the RSI.
those indicators will visually confirm the cup & handle formation.
Very good Grasshopper.
From 10/23 to 10/27 the negative volume was 103 million.
EGO's avg. vol.(10 days)is only 5.5 million..(buys & sells)
10 days is a 2 week trading period.
That's why is takes roughly 7 weeks to form a solid base in order to form the right side for upward momemtum until it gets to that magigal PIVOT point.
The day EGO has vol. of 2x-2.5times the vol. then you know.
On 10/23/17..when EGO nose dived, so did the OBV (on balance vol.)
On Balance Volume (OBV) is a simple indicator that uses volume and price to measure buying pressure and selling pressure. Buying pressure is evident when positive volume exceeds negative volume and the OBV line rises. Selling pressure is present when negative volume exceeds positive volume and the OBV line falls. Chartists can use OBV to confirm the underlying trend or look for divergences that may foreshadow a price change. As with all indicators, it is important to use OBV in conjunction with other aspects of technical analysis. It is not a standalone indicator. OBV can be combined with basic pattern analysis or to confirm signals from momentum oscillators.
I don't use these internet charts, so I have a hard time trying to link from there to here.
I have Ameritrades THINKorSWIM platform.
It's actually $1.60 because of all the overhead supply.
That's why the downgrade to $1.75.
Let's try that chart one more time.https://www.tradingview.com/x/CvI1bhf9[img][/img]
https://www.stockscores.com/charts/charts/?ticker=EGO&ChartStyle=i[img][/img]
Hope this comes through...anyway..if it does not
use the indicator "On Balance Volume," to see the formation of
a true "cup & Handle" starting to form.
** hint it's not where you expect it to be!
That's what investing is all about...like watching paint dry!
Nice solid base forming.Working on 4 weeks of base building.
$1.38 will be the right side of the "cup" starting to form.
Slow and steady rise from there until breakout.
Witnessing textbook example of "cup & handle.
Claude Resources did the same thing...took off after Santa Clause rally and was bought out by Silver Standard a few month later.
Strange...got a pop-up alert this morning for IFRTF, checked this message board and saw only one post dated 9/30/16.
Rechecked board a few minutes ago... has the same 9/30/16 post but
now has a chart dated November 15,2017.
OUT !
Later ..
Yesterday afternoon on CNBC, Mario Gabelli of Gabelli Funds was asked what his small and microcap funds were holding and adding to, and one that he mentioned was a small miner that he was thrilled about and mentioned it by name... Eldorado Gold.
No lie...no BS.
Livelong and prosper
And Goldman is supporting it with 1.5 million
Glad that you are well positioned. I sold out last week some 10,000shares because I have seen this senario many many times.
With all the overhead shares to go through, itwill take weeks if not months to form a strong base as it inches up and down within yesterday's range forming the right side of the cup until it finally overcome resistance in the $2.25 area.
I figure most people sold for a tax loss and will adhere to the wash rules and buy after that period.
Imbalance of trades tomorrow...gap-up!
selfwill run rampant
They are trading the New York stock exchange of which it is a member of like I said months ago.
This is going to get ugly,even as gold catches a breath.
Well, you got it in pre-market my friend!
That's wheely good.
Just like Goldman Sachs supporting Rad @ 1.51
Pssst...I don't have a loss.
Keep all loss at 2% when and if trade doesn't work out.
Yea,right!! If my grandmother had a wheel, she'd be a bicycle.
I'm building my position here..my second entry point bought 30 seconds ago.
selfwill run rampant
Sorry to pop your bubble.. but I bought here 30 seconds ago.
self will run rampant
If you would read the "Intro" on the top of this page, you'll see that they are being funded by 2 grants.
Usually grants can only be used for hiring and advancement of a project and not for buying opportunities.
The only POSSIBLE chart formation that EGO could make
is the infamous Cup & Handle! A true C&H formation takes a minimum
of seven weeks in consolidation and this is just day 2!
I say this because some idiot will call it while looking at
a 5 minute chart instead of a daily chart.
There's ya'lls falling knife you were looking for
All I have seen is the form 6-k filed (used by foreign private insuers) listed on this page as a news alert
FALLING KNIFE>>>falling knife....LOL
Weilded knife looks like.
Very patient...very well said Grasshopper.
Now ,as quick as you can...snatch the pebble...
Could not resist!
ON Balance Volume tells the story.
self will run rampant
LOL..He sounds like a hall monitor...I really think he needs to use his Caps Lock key, might make it more believable.