Eldorado Stock Forecast is based on your current time horizon. Although Eldorado Gold's naive historical forecasting may sometimes provide an important future outlook for the firm, we recommend always cross-verifying it against solid analysis of Eldorado Gold's systematic risk associated with finding meaningful patterns of Eldorado Gold fundamentals over time.
Eldorado
At this time, Eldorado Gold's Inventory Turnover is very stable compared to the past year. As of the 29th of December 2024, Receivables Turnover is likely to grow to 12.17, while Payables Turnover is likely to drop 4.18. . As of the 29th of December 2024, Common Stock Shares Outstanding is likely to drop to about 98.9 M. In addition to that, Net Loss is likely to drop to about (427.2 M).
On November 19, 2024 Eldorado Gold Corp had Daily Balance Of Power of 0.0652. Balance of Power indicator (or BOP) measures the strength of Eldorado Gold Corp market sensitivity to bulls and bears. It estimates the ability of Eldorado Gold buyers and sellers to push price to an extreme high or extreme low level. As a result, by monitoring Eldorado Gold Balance of Power indicator one can determine a trend of the price direction.
On November 20 2024 Eldorado Gold Corp was traded for 22.65 at the closing time. The maximum traded price for the trading interval was 22.98 and the lowest daily price was 22.55 . The daily volume was recorded at 297.2 K. The volume of trading on 20th of November 2024 played a part in the next trading day price drop. The overall trading delta to the next closing price was 0.61% . The overall trading delta to the closing price today is 2.41% .
Balance of Power indicator was created by Igor Livshin to predict asset short term price movements or warning signals. If Balance of Power indicator is trended towards the high of its range it will signify that the bulls are in control. On the other hand when the BOP indicator is moving towards the lows of its range it signifies that the bears are in control. If the indicator move from a high positive range to a lower positive range it signifies that the buying pressure is decreasing. Conversely, if the indicator move from a low negative range to a higher negative range it signifies that the selling pressure is decreasing.
For every potential investor in Eldorado, whether a beginner or expert, Eldorado Gold's price movement is the inherent factor that sparks whether it is viable to invest in it or hold it better. Eldorado Stock price charts are filled with many 'noises.' These noises can hugely alter the decision one can make regarding investing in Eldorado. Basic forecasting techniques help filter out the noise by identifying Eldorado Gold's price trends.
One of the popular trading techniques among algorithmic traders is to use market-neutral strategies where every trade hedges away some risk. Because there are two separate transactions required, even if one position performs unexpectedly, the other equity can make up some of the losses. Below are some of the equities that can be combined with Eldorado Gold stock to make a market-neutral strategy. Peer analysis of Eldorado Gold could also be used in its relative valuation, which is a method of valuing Eldorado Gold by comparing valuation metrics with similar companies.
Eldorado Gold Corp Technical and Predictive Analytics
The stock market is financially volatile. Despite the volatility, there exist limitless possibilities of gaining profits and building passive income portfolios. With the complexity of Eldorado Gold's price movements, a comprehensive understanding of forecasting methods that an investor can rely on to make the right move is invaluable. These methods predict trends that assist an investor in predicting the movement of Eldorado Gold's current price.
Market strength indicators help investors to evaluate how Eldorado Gold stock reacts to ongoing and evolving market conditions. The investors can use it to make informed decisions about market timing, and determine when trading Eldorado Gold shares will generate the highest return on investment. By undertsting and applying Eldorado Gold stock market strength indicators, traders can identify Eldorado Gold Corp entry and exit signals to maximize returns.
The analysis of Eldorado Gold's basic risk indicators is one of the essential steps in accurately forecasting its future price. The process involves identifying the amount of risk involved in Eldorado Gold's investment and either accepting that risk or mitigating it. Along with some essential techniques for forecasting eldorado stock prices, we also provide a set of basic risk indicators that can assist in the individual investment decision or help in hedging the risk of your existing portfolios.
Please note, the risk measures we provide can be used independently or collectively to perform a risk assessment. When comparing two potential investments, we recommend comparing similar equities with homogenous growth potential and valuation from related markets to determine which investment holds the most risk.
Pair Trading with Eldorado Gold
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Eldorado Gold position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Eldorado Gold will appreciate offsetting losses from the drop in the long position's value.
The ability to find closely correlated positions to Eldorado Gold could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Eldorado Gold when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Eldorado Gold - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Eldorado Gold Corp to buy it.
The correlation of Eldorado Gold is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Eldorado Gold moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Eldorado Gold Corp moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Eldorado Gold can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.
When determining whether Eldorado Gold Corp offers a strong return on investment in its stock, a comprehensive analysis is essential. The process typically begins with a thorough review of Eldorado Gold's financial statements, including income statements, balance sheets, and cash flow statements, to assess its financial health. Key financial ratios are used to gauge profitability, efficiency, and growth potential of Eldorado Gold Corp Stock. Outlined below are crucial reports that will aid in making a well-informed decision on Eldorado Gold Corp Stock:
You can also try the Positions Ratings module to determine portfolio positions ratings based on digital equity recommendations. Macroaxis instant position ratings are based on combination of fundamental analysis and risk-adjusted market performance.
Please note, there is a significant difference between Eldorado Gold's value and its price as these two are different measures arrived at by different means. Investors typically determine if Eldorado Gold is a good investment by looking at such factors as earnings, sales, fundamental and technical indicators, competition as well as analyst projections. However, Eldorado Gold's price is the amount at which it trades on the open market and represents the number that a seller and buyer find agreeable to each party.