Weaker technical forecast for Camber Energy, Inc. as stock downgraded to Sell Candidate.StockInvest.us, 2 months ago
The Camber Energy, Inc. stock price gained 0.82% on the last trading day (Tuesday, 2nd Nov 2021), rising from $1.22 to $1.23. During the day the stock fluctuated 7.69% from a day low at $1.17 to a day high of $1.26. The price has fallen in 6 of the last 10 days and is down by -27.22% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 12 million more shares were traded than the day before. In total, 59 million shares were bought and sold for approximately $72.27 million.
Given the current short-term trend, the stock is expected to rise 58.24% during the next 3 months and, with a 90% probability hold a price between $1.95 and $6.97 at the end of this 3-month period.
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. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Camber Energy, Inc. stock holds sell signals from both short and long-term moving averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $1.31 and $1.81. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Thursday, September 30, 2021, and so far it has fallen -67.80%. Further fall is indicated until a new bottom pivot has been found.
Camber Energy, Inc. finds support from accumulated volume at $1.22 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
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 $0.0900 between high and low, or 7.69%. For the last week, the stock has had a daily average volatility of 8.44%.
The Camber Energy, Inc. stock holds several negative signals and despite the positive trend, we believe Camber Energy, Inc. will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.Check full Camber Energy, Inc. forecast and analysis here.