CalAmp Corp. Stock Forecast
Evaluation of CalAmp Corp. stock downgraded after the last trading session.
(Updated on Apr 23, 2024)
The CalAmp Corp. stock price fell by -1.19% on the last day (Tuesday, 23rd Apr 2024) from $3.37 to $3.33. During the last trading day the stock fluctuated 4.82% from a day low at $3.22 to a day high of $3.37. The price has fallen in 6 of the last 10 days but is still up by 5.71% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -5 thousand shares and in total, 10 thousand shares were bought and sold for approximately $32.46 thousand.
The stock lies in the middle of a very wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 52.76% during the next 3 months and, with a 90% probability hold a price between $2.67 and $7.81 at the end of this 3-month period.
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CAMP Signals & Forecast
The CalAmp Corp. stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $3.14 and $3.00. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, February 15, 2024, and so far it has fallen -12.37%. Further fall is indicated until a new bottom pivot has been found. Volume fell along with the price during the last trading day which is technical positive. One should, however, note that this stock may have low liquidity in periods, which increases the general risk. The very low volume increases the risk and reduces the other technical signals issued.
Support, Risk & Stop-loss for CalAmp Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.11 and $2.89. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, CalAmp Corp. finds support just below today's level at $3.11. If this is broken, then the next support from accumulated volume will be at $2.89 and $2.76.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.155 between high and low, or 4.82%. For the last week the stock has had daily average volatility of 5.56%.
Our recommended stop-loss: $3.14 (-5.64%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 46 days ago.)
Trading Expectations (CAMP) For The Upcoming Trading Day Of Wednesday 24th
For the upcoming trading day on Wednesday, 24th we expect CalAmp Corp. to open at $3.31, and during the day (based on 14 day Average True Range), to move between $3.09 and $3.57, which gives a possible trading interval of +/-$0.238 (+/-7.14%) up or down from last closing price. If CalAmp Corp. takes out the full calculated possible swing range there will be an estimated 14.27% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.11 (6.61%) than the resistance at $3.61 (8.41%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
CalAmp Corp. will release earnings BMO on Thursday, April 25, 2024.The consensus among the analysts for the expected earnings (EPS) is -$2.07. We will update the financials statements for CalAmp Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.97% in the first trading day after earnings release.
Is CalAmp Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CalAmp Corp. stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 2.421 Buy Candidate Downgraded
Predicted Opening Price for CalAmp Corp. of Wednesday, April 24, 2024
| Fair opening price April 24, 2024 | Current price |
|---|---|
| $3.31 ( 0.751%) | $3.33 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAMP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.46 | 3.90 % | |
| R2 | 3.40 | 2.13 % | ||
| R1 | 3.36 | 1.03 % | ||
| Current price: | 3.33 | |||
| Support | S1 | 3.25 | -2.53 % | |
| S2 | 3.21 | -3.63 % | ||
| S3 | 3.15 | -5.41 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.80 | 14.11 % | |
| R2 | 3.62 | 8.71 % | ||
| R1 | 3.61 | 8.41 % | ||
| Current price | 3.33 | |||
| Support | S1 | 3.11 | -6.61% | |
| S2 | 2.89 | -13.21% | ||
| S3 | 2.76 | -17.12% |
FAQ
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