Eldorado Gold (EGO) is being pilloried because a court shut one of its mines in Turkey due to potential environmental problems. The company’s shares are down 25% today to $5.
But, before the news came out, TheStreet.com spoke well of the company:"The stock has recently broken out to the upside of a bullish consolidation pattern in the daily chart, and confirmed with volume." And "we would view any pullback toward that level as an opportunity to get long"
So, EGO is a "buy"?
Probably not.
Douglas A. McIntyre
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
