High volatility in Camber Energy stock price on Wednesday which ended trading at $0.535StockInvest.us, 1 month ago
The Camber Energy stock price gained 19.40% on the last trading day (Wednesday, 18th Oct 2023), rising from $0.448 to $0.535. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 30.88% from a day low at $0.440 to a day high of $0.576. The price has risen in 8 of the last 10 days and is up by 117.35% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 18 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $12.53 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $0.584 will firstly indicate a slower falling rate, but may be the first sign of a trend shift.Given the current short-term trend, the stock is expected to fall -52.92% during the next 3 months and, with a 90% probability hold a price between $0.0471 and $0.275 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
The Camber Energy 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 $0.413 and $0.334. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, October 03, 2023, and so far it has risen 151.36%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
On the downside, the stock finds support just below today's level from accumulated volume at $0.492 and $0.440.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, Camber Energy finds support just below today's level at $0.492. If this is broken, then the next support from accumulated volume will be at $0.440 and $0.420.
This stock may move very much during the day (volatility) and with a very large prediction interval from the Bollinger Band this stock is considered to be "very high risk". During the last day, the stock moved $0.136 between high and low, or 30.88%. For the last week, the stock has had daily average volatility of 23.32%.
Camber Energy holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.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 Hold/Accumulate candidate.Check full Camber Energy forecast and analysis here.