eldorado gold corporation stock prediction july 2011

eldorado gold corporation stock prediction july 2011 : Eldorado Gold Corporation (NYSE:EGO) shares closed the session higher by $0.18 or 1.02% from its previous close. Eldorado's latest price action developed a short term reversal pattern in the form of a tweezer top, which is a candlestick pattern that is usually formed at the end of a uptrend. Given that the tweezer top is considered a reversal pattern, traders with long positions need to monitor stock price action for confirmation of weakness and plan position accordingly.

Eldorado Gold Corporation (NYSE:EGO) engages in the exploration, development, mining, processing, reclamation, and production of primarily gold and iron properties. It owns and operates the Kisladag gold mine in Turkey; and the Tanjianshan, Jinfeng, and White Mountain gold mines in China, as well as the development projects, including the Efemcukuru gold project located in Turkey, the Eastern Dragon gold project in China, the Perama Hill gold project in Greece, and the Vila Nova iron ore project in Brazil. the company is headquartered in Vancouver, Canada.

Eldorado's stock has been a defined range with support at $13.74 and resistance at $16.46, which can be used by traders managing their trades, given the possibility of short term weakness in the stock.