These Stocks Will Fly High Again: Eldorado Gold Corporation (EGO), NIO Inc. (NIO)

Eldorado Gold Corporation (NYSE:EGO) has its shares plummet by -22% or $2.22 from its all-time high of $10.09, with EGO attaining that price back on September 04, 2019. The drop in the price of the shares saw it stand at $7.87 per share. EGO has been trading at a low of $2.52 over the past one year but it surged by 212.3% or $5.35 to reach the $7.87 mark. Following the massive rise in stock price, EGO received more attention from investors and analysts. On Thursday, the stock plunged by 6.5%, which caused investors and analysts to excite about it. Following the plunge in price, the EGO beta stands at 1.89, implying that its volatility level has gone up by -0.89 ahead of the general market. A look at the stock’s 200-day moving average shows that it is 41.14% above while its 50-day moving average shows that it is currently -6.51% below. Compared to 4.93% average daily volatility of past month, the stock’s average volatility for this week has decreased by -0.41 as the volatility level currently stands at 4.52%.

Over the past seven days, the stock has witnessed a price surge by 0.64%. This massive rise in stock price has caught the attention of both investors and market traders. The stock has performed excellently over the past 52 weeks, rising by 71.18% during that time frame and is now up by 173.26% since this point this year. EGO has fell by -3.08% over the past 30 days, with its equity price gaining% of its value over the past ninety days. These figures add up to see the stock record a growth of 83.88% over the past six months.

Market analysts from research firms still remain bullish about the short-term performance of EGO. Most of them are of the view that the stock would be able to reach $1.83 over the next 12 months. If that happens, then the stock would witness a -76.75% fall in its price and that would see the stock’s market cap hit an astonishing $308 Million. Analysts view this stock as a bearish at the moment as its average rating is 3. According to Reuters, most of the 8 analysts covering the stock at the moment believe it is a Buy. 3 of them rated EGO as a Hold while 4 of them either rated it as a Buy or a Strong Buy. However, 1 of them advised investors to sell the stock if they have it or shouldn’t buy it if they don’t possess any.

The stock’s technical analysis reveals that its 14-day Relative Strength Index (RSI) is currently in a neutral position as it was able to attain 48.58 points. The trading volume now standing at 2353866 shares. The decrease of -1316134 shares in trading volume shows that traders and investors have shown less interest in the stock over the past few weeks. During that trading session, the average trading volume of EGO was 3670000 shares, which is more than 0.64 times higher than its usual trading volume.

NIO Inc. has seen its stock (NYSE:NIO) plunge by $0 or 0% to currently trade at $1.46. This fall in the price of the stock has seen it establish a strong support at $1.42 a share. If the stock price is to drop below that support level, then it would be followed by a bearish trend. A slip below $1.38 would be bad for NIO as it would mean that the stock has lost 5.48% of its value. The stock going in the opposite direction and breaking past the resistance point to reach $1.5 would see it surge even higher. NIO would attempt to surge past the upward resistance point which is set at $1.54 a share. NIO has an average volatility of 11.17% over the past 30 days, while it has gained 18.49% of its value compared to its 52-weeks low point which stands at $1.19 on Oct 02, 2019. In the same breath, NIO has lost 2.74% compared to its 52-weeks high point which currently stands at $1.42 a share reached on Feb 26, 2019.

The stock has an average rating of 3.2 which means that it has been rated as a Sellby most analysts. The stock is being covered by 5 analysts who gave a consensus recommendation of 3.2 which implies that it is currently in a bull/bear situation. Reuters looked into analysts covering NIO Inc., and 3 of them believe that the stock is a Hold at the moment. 2 of the analysts rated it as a Buy or a Strong Buy while the remaining analysts (1) rated it as a sell at the moment.