Camtek Ltd. Stock Forecast
Evaluation of Camtek Ltd. stock downgraded after the last trading session.
(Updated on May 01, 2024)
The Camtek Ltd. stock price fell by -2.58% on the last day (Wednesday, 1st May 2024) from $80.97 to $78.88. During the last trading day the stock fluctuated 4.09% from a day low at $78.15 to a day high of $81.35. The price has risen in 6 of the last 10 days but is still down by -1.84% for this period. Volume has increased on the last day by 181 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, 306 thousand shares were bought and sold for approximately $24.17 million.
The stock is moving within a wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Camtek Ltd. stock with a 90% probability to be traded between $73.75 and $87.91 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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CAMT Signals & Forecast
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. The Camtek Ltd. 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 $79.67 and $80.45. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Monday, April 29, 2024, and so far it has fallen -4.62%. Further fall is indicated until a new bottom pivot has been found. Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Camtek Ltd. stock
Camtek Ltd. finds support from accumulated volume at $78.46 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 $3.20 between high and low, or 4.09%. For the last week, the stock has had daily average volatility of 3.54%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (CAMT) For The Upcoming Trading Day Of Thursday 2nd
For the upcoming trading day on Thursday, 2nd we expect Camtek Ltd. to open at $79.46, and during the day (based on 14 day Average True Range), to move between $75.29 and $82.47, which gives a possible trading interval of +/-$3.59 (+/-4.55%) up or down from last closing price. If Camtek Ltd. takes out the full calculated possible swing range there will be an estimated 9.11% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $78.46 (0.53%) than the resistance at $80.38 (1.90%), 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
Camtek Ltd. will release earnings BMO on Thursday, May 09, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.570. We will update the financials statements for Camtek Ltd., that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 8.07% in the first trading day after earnings release.
Is Camtek Ltd. stock A Buy?
Camtek Ltd. holds several negative signals and is within a wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore 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.
Current score: -3.685 Sell Candidate Downgraded
Predicted Opening Price for Camtek Ltd. of Thursday, May 2, 2024
| Fair opening price May 2, 2024 | Current price |
|---|---|
| $79.46 ( 0.735%) | $78.88 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CAMT
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.66 | 4.79 % | |
| R2 | 81.44 | 3.24 % | ||
| R1 | 80.68 | 2.28 % | ||
| Current price: | 78.88 | |||
| Support | S1 | 78.24 | -0.81 % | |
| S2 | 77.48 | -1.77 % | ||
| S3 | 76.26 | -3.32 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 87.77 | 11.27 % | |
| R2 | 82.07 | 4.04 % | ||
| R1 | 80.38 | 1.90 % | ||
| Current price | 78.88 | |||
| Support | S1 | 78.46 | -0.532% | |
| S2 | 76.84 | -2.59% | ||
| S3 | 75.20 | -4.67% |
CAMT Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 03, 2024 | Apr 03, 2024 | Apr 03, 2024 | $0 | 0% |
| 2 | Aug 06, 2019 | Aug 21, 2019 | Sep 04, 2019 | $0.170 | 1.87% |
| 3 | May 02, 2018 | May 16, 2018 | May 29, 2018 | $0.140 | 1.72% |
| 4 | Nov 07, 2017 | Nov 21, 2017 | Nov 30, 2017 | $0.140 | 2.32% |
FAQ
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