---
title: "El Dorado Makes for a Glint In Our Eyes"
url: https://stacklist.com/card/004e9edb-8c55-4d3d-b4cf-f172bf3b4ed2
source_url: "https://www.linkedin.com/pulse/el-dorado-makes-glint-our-eyes-david-m-aferiat/?trackingId=OHtJxHOETDC3S66Chr1O9A%3D%3D"
stack: https://stacklist.com/c/education/stack/3701d09f-5d84-426c-aef0-e129d294445b
summary: "El Dorado Gold (EGO) is highlighted as Trade Ideas' \"Trade of the Week\" with a technical setup showing strength in the metals sector and potential to break above recent downtrends. The recommended entry is a limit order at $4.90 or better with a stop loss at $4.25 and an upside target around $8.00 or higher."
tags: "gold-trading, technical-analysis, stock-alert, el-dorado-gold, trade-ideas, metals, investment"
key_entities: "Trade Ideas (organization), El Dorado Gold (EGO) (technology), Average True Range (ATR) (concept), technical-strength (concept), limit-order (concept)"
classification: "analysis"
content_hash: "sha256:8b296b7fadcc1002b8441063671ebbe5e41ec0669cf14770f6ecf1a0bc14d76a"
acp_version: "0.2"
token_counts_approximate: 393
visibility: public
agent_accessible: true
status: "final"
---

# El Dorado Makes for a Glint In Our Eyes

Trade Ideas' "Trade of the Week" is El Dorado Gold (EGO). This article is republished from the email that Trade of the Week subscribers receive at the beginning of the week. Visit www.trade-ideas.com  to sign up. The Trade Ideas “Metals” channel currently points to technical strength in gold and silver. El Dorado Gold (EGO) looks poised to move higher from the close last Friday. The trade in EGO will be a limit order to buy no higher than $4.90. As of this post on Wednesday EGO sits at $5.05.  Like many Trade of the Week ideas, El Dorado Gold (EGO) is looking to break the recent downtrend and move higher after building a solid base and making new 20 days highs on the chart. The average true range (ATR) for EGO according to Trade Ideas is a daily 25 cent move from high to low. The stop loss for EGO will be set much lower than the ATR at $4.25 assuming a buy of $4.90 or better near the open. Here's a recent daily chart:  The stop loss for EGO is set at $4.25 assuming a buy of $4.90 or better near the open. As always, use the 60 cents of risk to calculate your maximum dollar loss in share size should the trade not work. The first upside level for EGO would be around $8.00 or higher in the long term if gold stays strong. Happy investing!  Please remember that Trade Ideas does not suggest day trading this type of alert. The idea behind the Trade of the Week is to give our customers opportunities that they may be able to stay in for an extended period of time. Please use proper risk management when making investment decisions.