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
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