On Friday, Eldorado Gold hit an important technical milestone, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 91, up from 87 the day before.
This exclusive rating from Investor's Business Daily measures price action with a 1 (worst) to 99 (best) score. The grade shows how a stock's price movement over the trailing 52 weeks compares to all the other stocks in our database.
Decades of market research shows that the stocks that go on to make the biggest gains typically have an RS Rating north of 80 in the early stages of their moves.
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Eldorado Gold is now considered extended and out of buy range after clearing an 18.20 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Eldorado Gold saw both earnings and sales growth rise last quarter. Earnings-per-share increased from 106% to 158%. Revenue rose from 36% to 42%. The company is expected to report its latest performance numbers on or around May 1.
Eldorado Gold holds the No. 1 rank among its peers in the Mining-Gold/Silver/Gems industry group. AngloGold Ashanti and DRDGOLD ADR are also among the group's highest-rated stocks.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
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