Camden National Corporation Stock Forecast
Green day on Tuesday for Camden National Corporation
(Updated on Jul 02, 2024)
The Camden National Corporation stock price gained 0.88% on the last trading day (Tuesday, 2nd Jul 2024), rising from $32.85 to $33.14. During the last trading day the stock fluctuated 1.01% from a day low at $32.81 to a day high of $33.14. The price has risen in 6 of the last 10 days and is up by 4.97% over the past 2 weeks. Volume fell on the last day by -9 thousand shares and in total, 35 thousand shares were bought and sold for approximately $1.17 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock lies in the middle of a wide and weak 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 6.64% during the next 3 months and, with a 90% probability hold a price between $32.48 and $36.80 at the end of this 3-month period.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
CAC Signals & Forecast
The Camden National Corporation 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 $32.26 and $32.21. 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 Wednesday, May 15, 2024, and so far it has fallen -0.778%. Further fall is indicated until a new bottom pivot has been found. Volume fell during the last trading day while the price increased. This causes a divergence and may be considered as an early warning, but it may also not.
Support, Risk & Stop-loss for Camden National Corporation stock
Camden National Corporation finds support from accumulated volume at $33.00 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
In general the stock tends to have very controlled movements and therefore the general risk is considered very low. However, be aware of low or falling volume and make sure to keep an eye on the stock During the last day, the stock moved $0.330 between high and low, or 1.01%. For the last week the stock has had daily average volatility of 2.59%
Our recommended stop-loss: $31.92 (-3.68%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 52 days ago.)
Trading Expectations (CAC) For The Upcoming Trading Day Of Wednesday 3rd
For the upcoming trading day on Wednesday, 3rd we expect Camden National Corporation to open at $33.03, and during the day (based on 14 day Average True Range), to move between $32.38 and $33.90, which gives a possible trading interval of +/-$0.758 (+/-2.29%) up or down from last closing price. If Camden National Corporation takes out the full calculated possible swing range there will be an estimated 4.57% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at $33.19 (0.15%) than the support at $33.00 (0.42%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Camden National Corporation stock A Buy?
Camden National Corporation 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.
Current score: -0.631 Hold/Accumulate Unchanged
Predicted Opening Price for Camden National Corporation of Wednesday, July 3, 2024
| Fair opening price July 3, 2024 | Current price |
|---|---|
| $33.03 ( 0.332%) | $33.14 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAC
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 33.36 | 0.664% |
| R2 | 33.23 | 0.283% |
| R1 | 33.16 | 0.0485% |
| Price | 33.14 | |
| S1 | 32.90 | -0.712% |
| S2 | 32.83 | -0.95% |
| S3 | 32.70 | -1.33% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 33.40 | 0.785% |
| R1 | 33.19 | 0.151% |
| Price | 33.14 | |
| S1 | 33.00 | -0.422% |
| S2 | 32.32 | -2.47% |
| S3 | 31.57 | -4.74% |
CAC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 25, 2024 | Jul 15, 2024 | Jul 31, 2024 | $0.420 | 1.27% |
| 2 | Mar 26, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.420 | 1.35% |
| 3 | Dec 19, 2023 | Jan 11, 2024 | Jan 31, 2024 | $0.420 | 1.17% |
| 4 | Sep 26, 2023 | Oct 12, 2023 | Oct 31, 2023 | $0.420 | 1.44% |
| 5 | Jun 27, 2023 | Jul 13, 2023 | Jul 31, 2023 | $0.420 | 1.21% |
FAQ
Click here for our free guide on how to buy Camden National Corporation Stock.
