Camden National Corporation Stock Forecast
Red day on Friday for Camden National Corporation
(Updated on May 03, 2024)
The Camden National Corporation stock price fell by -0.311% on the last day (Friday, 3rd May 2024) from $32.13 to $32.03. During the last trading day the stock fluctuated 2.35% from a day low at $31.88 to a day high of $32.63. The price has risen in 6 of the last 10 days and is up by 6.55% over the past 2 weeks. Volume has increased on the last day by 309 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, 27 thousand shares were bought and sold for approximately $875.22 thousand.
The stock lies the upper part of a 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 $32.58 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 -6.68% during the next 3 months and, with a 90% probability hold a price between $26.32 and $30.40 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.
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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 $31.21 and $31.01. 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, May 02, 2024, and so far it has fallen -0.311%. Further fall is indicated until a new bottom pivot has been found. 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".
Support, Risk & Stop-loss for Camden National Corporation stock
Camden National Corporation finds support from accumulated volume at $31.78 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 $0.750 between high and low, or 2.35%. For the last week, the stock has had daily average volatility of 2.93%.
Our recommended stop-loss: $31.18 (-2.66%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 1 day ago.)
Trading Expectations (CAC) For The Upcoming Trading Day Of Monday 6th
For the upcoming trading day on Monday, 6th we expect Camden National Corporation to open at $32.18, and during the day (based on 14 day Average True Range), to move between $31.13 and $32.93, which gives a possible trading interval of +/-$0.90 (+/-2.82%) up or down from last closing price. If Camden National Corporation takes out the full calculated possible swing range there will be an estimated 5.64% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $31.78 (0.78%) than the resistance at $32.32 (0.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Camden National Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.
Current score: 1.596 Buy Candidate Unchanged
Predicted Opening Price for Camden National Corporation of Monday, May 6, 2024
| Fair opening price May 6, 2024 | Current price |
|---|---|
| $32.18 ( 0.468%) | $32.03 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 32.93 | 2.81 % | |
| R2 | 32.64 | 1.92 % | ||
| R1 | 32.47 | 1.36 % | ||
| Current price: | 32.03 | |||
| Support | S1 | 31.89 | -0.426 % | |
| S2 | 31.72 | -0.98 % | ||
| S3 | 31.43 | -1.87 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 33.15 | 3.50 % | |
| R2 | 32.35 | 1.00 % | ||
| R1 | 32.32 | 0.91 % | ||
| Current price | 32.03 | |||
| Support | S1 | 31.78 | -0.781% | |
| S2 | 31.27 | -2.37% | ||
| S3 | 31.24 | -2.47% |
CAC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Mar 26, 2024 | Apr 12, 2024 | Apr 30, 2024 | $0.420 | 1.35% |
| 2 | Dec 19, 2023 | Jan 11, 2024 | Jan 31, 2024 | $0.420 | 1.17% |
| 3 | Sep 26, 2023 | Oct 12, 2023 | Oct 31, 2023 | $0.420 | 1.44% |
| 4 | Jun 27, 2023 | Jul 13, 2023 | Jul 31, 2023 | $0.420 | 1.21% |
| 5 | Mar 28, 2023 | Apr 13, 2023 | Jul 31, 2023 | $0.420 | 1.21% |
FAQ
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