EGO Forecast + Trading Strategies


Bullish Case: EGO's strong operational performance, positive sector ratings, and strategic initiatives are likely to result in continued stock price appreciation. Increased gold production and reduced costs from resolving inventory issues enhance profit margins.


Bearish Case: EGO faces significant headwinds from fluctuating gold prices and market uncertainty. The recent mean-reverting price action and high implied volatility indicate potential downside risks, coupled with possible delays in key projects like Skouries.


Potential Outcomes:

1. EGO appreciates to $18 (45%)—favorable gold prices and resolved inventory issues.

2. EGO declines to $14 (30%)—sector headwinds and project delays.

3. EGO remains stable at $15 (25%)—market uncertainty balances gains and losses.


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May 28, 2024


Eldorado Gold Forecast

EGO      Eldorado Gold











Correlated Assets

Assets that tend to move strongly with EGO



NGD Forecast + Options Trading Strategies   NGD  New Gold (0.97)


HMY Forecast + Options Trading Strategies   HMY  Harmony Gold Mining (0.96)


GLD Forecast + Options Trading Strategies   GLD  SPDR Gold Shares (0.95)


UGL Forecast + Options Trading Strategies   UGL  ProShares Ultra Gold (0.95)


KGC Forecast + Options Trading Strategies   KGC  Kinross Gold (0.94)



Uncorrelated Assets

Assets with little price relationship to EGO



EOG Forecast + Options Trading Strategies   EOG  EOG Resources (0.0)


OXY Forecast + Options Trading Strategies   OXY  Occidental Petroleum (0.0)


IONS Forecast + Options Trading Strategies   IONS  Ionis Pharmaceuticals (0.0)


CABA Forecast + Options Trading Strategies   CABA  Cabaletta Bio (-0.0)


SNOW Forecast + Options Trading Strategies   SNOW  Snowflake (-0.01)



Anticorrelated Assets

Assets that tend to move strongly against EGO



SPXS Forecast + Options Trading Strategies   SPXS  Direxion Daily S&P 500 Bear 3X Shares (-0.84)


LAZR Forecast + Options Trading Strategies   LAZR  Luminar (-0.84)


EXTR Forecast + Options Trading Strategies   EXTR  Extreme Networks (-0.85)


WTI Forecast + Options Trading Strategies   WTI  W & T Offshore (-0.86)


AEHR Forecast + Options Trading Strategies   AEHR  Aehr Test Systems (-0.86)





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