CalAmp Corp. Stock Forecast
CalAmp Corp. stock price up more than 6.45% on Wednesday
(Updated on May 01, 2024)
The CalAmp Corp. stock price gained 6.45% on the last trading day (Wednesday, 1st May 2024), rising from $3.10 to $3.30. During the last trading day the stock fluctuated 3.77% from a day low at $3.18 to a day high of $3.30. The price has been going up and down for this period, and there has been a 10% gain for the last 2 weeks. Volume fell on the last day by -2 thousand shares and in total, 3 thousand shares were bought and sold for approximately $9.48 thousand. 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 very 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 5.54% during the next 3 months and, with a 90% probability hold a price between $2.66 and $4.20 at the end of this 3-month period.
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CAMP Signals & Forecast
There are mixed signals in the stock today. A sell signal was issued from a pivot top point on Monday, April 22, 2024, and so far it has fallen -2.08%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). 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 not be. The very low volume increases the risk and reduces the other technical signals issued. The CalAmp Corp. 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 $3.25 and $3.11. A breakdown below any of these levels will issue sell signals.
Support, Risk & Stop-loss for CalAmp Corp. stock
On the downside, the stock finds support just below today's level from accumulated volume at $3.11 and $2.89. 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, CalAmp Corp. finds support just below today's level at $3.11. If this is broken, then the next support from accumulated volume will be at $2.89 and $2.76.
This stock has average movements during the day, but be aware of low or falling volume as this increases the risk. During the last day, the stock moved $0.120 between high and low, or 3.77%. For the last week the stock has had daily average volatility of 5.71%.
Our recommended stop-loss: $3.17 (-3.98%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 7 days ago.)
Trading Expectations (CAMP) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect CalAmp Corp. to open at $3.26, and during the day (based on 14 day Average True Range), to move between $3.08 and $3.52, which gives a possible trading interval of +/-$0.225 (+/-6.81%) up or down from last closing price. If CalAmp Corp. takes out the full calculated possible swing range there will be an estimated 13.63% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $3.11 (5.76%) than the resistance at $3.61 (9.39%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
CalAmp Corp. will release earnings BMO on Thursday, May 02, 2024.The consensus among the analysts for the expected earnings (EPS) is -$2.07. We will update the financials statements for CalAmp Corp., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 6.97% in the first trading day after earnings release.
Is CalAmp Corp. stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for CalAmp Corp. stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
Current score: 1.988 Buy Candidate Upgraded
Predicted Opening Price for CalAmp Corp. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $3.26 ( 1.21%) | $3.30 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAMP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.38 | 2.42 % | |
| R2 | 3.33 | 1.04 % | ||
| R1 | 3.31 | 0.177 % | ||
| Current price: | 3.30 | |||
| Support | S1 | 3.21 | -2.60 % | |
| S2 | 3.19 | -3.46 % | ||
| S3 | 3.14 | -4.85 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.80 | 15.15 % | |
| R2 | 3.62 | 9.70 % | ||
| R1 | 3.61 | 9.39 % | ||
| Current price | 3.30 | |||
| Support | S1 | 3.11 | -5.76% | |
| S2 | 2.89 | -12.42% | ||
| S3 | 2.76 | -16.36% |
FAQ
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