Camden National Corporation stock price down 0.81% on Friday
(Updated on Dec 03, 2021)
Buy candidate since 2021-12-02 Loss -0.81% PDF
The Camden National Corporation stock price fell by -0.81% on the last day (Friday, 3rd Dec 2021) from $46.85 to $46.47. During the day the stock fluctuated 1.47% from a day low at $46.28 to a day high of $46.96. The price has fallen in 7 of the last 10 days and is down by -4.72% for this period. Volume has increased on the last day by 3 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 24 thousand shares were bought and sold for approximately $1.13 million.
The stock lies in the lower part of a wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $45.58 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the stock is expected to rise 4.03% during the next 3 months and, with a 90% probability hold a price between $47.42 and $53.38 at the end of this 3-month period.
Signals & Forecast
The Camden National Corporation 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 $46.58 and $48.42. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Camden National Corporation gained volume on the last day, but on falling prices. In technical terms, this is called divergence and may be an early warning. In some cases, increasing volume on falling prices may be considered positive, but that is mainly in typical "sell-offs". Some positive signals were issued as well, and these may have some influence on the near short-term development. A buy signal was issued from a pivot bottom point on Wednesday, December 01, 2021, and so far it has risen 2.09%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss
Camden National Corporation finds support from accumulated volume at $45.82 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.68 between high and low, or 1.47%. For the last week, the stock has had a daily average volatility of 2.42%.
Our recommended stop-loss: $44.32 (-4.63%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 2 days ago.)
Is Camden National Corporation stock A Buy?
Several of the signals/indicators are negative, and we believe that this will affect on the development for the next days and maybe possible weeks. However, over time, we think that today's level holds a possible buying opportunity and that the price will be higher during or at the end of this 3-month period.
Current score: 1.667
Predicted Opening Price for Camden National Corporation of Monday, December 6, 2021
The predicted opening price is based on yesterday's movements between high, low, and the closing price.
|Fair opening price December 6, 2021||Current price|
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On Oct 07, 2021 "Raymond James" gave "" rating for CAC. The price target was set to $48.610.0%.
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