Camber Energy Stock Forecast
High volatility in Camber Energy stock price on Thursday which ended trading at $0.178
(Updated on May 02, 2024)
The Camber Energy stock price gained 7.53% on the last trading day (Thursday, 2nd May 2024), rising from $0.166 to $0.178. During the last trading day the stock fluctuated 10.17% from a day low at $0.163 to a day high of $0.180. The price has risen in 6 of the last 10 days and is up by 8.78% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 6 million shares were bought and sold for approximately $1.15 million.
The stock is moving within a very wide and horizontal trend and further movements within this trend can be expected. Given the current horizontal trend, you can expect Camber Energy stock with a 90% probability to be traded between $0.162 and $0.229 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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CEI Signals & Forecast
A buy signal was issued from a pivot bottom point on Thursday, April 18, 2024, and so far it has risen 8.78%. Further rise is indicated until a new top pivot has been found. Camber Energy has increased volume and follows the last lift in the price. This is considered to be a technical positive sign as volume should follow the price-formation. Higher liquidity also reduces the general risk. Some negative signals were issued as well, and these may have some influence on the near short-term development. The Camber Energy stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $0.190. On a fall, the stock will find some support from the short-term average at $0.171. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Camber Energy stock
Camber Energy finds support from accumulated volume at $0.172 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.0166 between high and low, or 10.17%. For the last week, the stock has had daily average volatility of 5.63%.
Our recommended stop-loss: $0.170 (-4.64%) (This stock has high daily movements and this gives high risk. There is a buy signal from a pivot bottom found 10 days ago.)
Trading Expectations (CEI) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Camber Energy, Inc. to open at $0.174, and during the day (based on 14 day Average True Range), to move between $0.161 and $0.196, which gives a possible trading interval of +/-$0.0178 (+/-9.98%) up or down from last closing price. If Camber Energy, Inc. takes out the full calculated possible swing range there will be an estimated 19.95% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.172 (3.59%) than the resistance at $0.204 (14.29%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Camber Energy, Inc. stock A Buy?
Camber Energy 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: -0.081 Hold/Accumulate Unchanged
Predicted Opening Price for Camber Energy, Inc. of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $0.174 ( 2.58%) | $0.178 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for CEI
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.190 | 6.73 % | |
| R2 | 0.184 | 3.17 % | ||
| R1 | 0.180 | 0.98 % | ||
| Current price: | 0.178 | |||
| Support | S1 | 0.167 | -6.13 % | |
| S2 | 0.164 | -8.33 % | ||
| S3 | 0.157 | -11.88 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.223 | 24.89 % | |
| R2 | 0.205 | 14.85 % | ||
| R1 | 0.204 | 14.29 % | ||
| Current price | 0.178 | |||
| Support | S1 | 0.172 | -3.59% | |
| S2 | 0.172 | -3.64% | ||
| S3 | 0.166 | -6.73% |
FAQ
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