Camtek Ltd. Stock Forecast
Camtek Ltd. stock upgraded from Sell Candidate to Hold/Accumulate after Monday trading session.
(Updated on Apr 22, 2024)
The Camtek Ltd. stock price gained 1.59% on the last trading day (Monday, 22nd Apr 2024), rising from $74.68 to $75.87. During the last trading day the stock fluctuated 4.04% from a day low at $73.10 to a day high of $76.05. The price has been going up and down for this period, and there has been a -5.1% loss for the last 2 weeks. Volume fell on the last day by -225 thousand shares and in total, 407 thousand shares were bought and sold for approximately $30.85 million. 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 is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $74.69 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect Camtek Ltd. stock with a 90% probability to be traded between $74.96 and $89.69 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
A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 1.59%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. 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 $78.65 and $80.43. 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).
Support, Risk & Stop-loss for Camtek Ltd. stock
Camtek Ltd. finds support from accumulated volume at $75.49 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 $2.95 between high and low, or 4.04%. For the last week, the stock has had daily average volatility of 5.49%.
Our recommended stop-loss: $71.96 (-5.15%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (CAMT) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Camtek Ltd. to open at $75.01, and during the day (based on 14 day Average True Range), to move between $71.87 and $79.87, which gives a possible trading interval of +/-$4.00 (+/-5.27%) up or down from last closing price. If Camtek Ltd. takes out the full calculated possible swing range there will be an estimated 10.55% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $75.49 (0.50%) than the resistance at $76.84 (1.28%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Camtek Ltd. stock A Buy?
Camtek Ltd. holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this stock since the last evaluation from a Sell to a Hold/Accumulate candidate.
Current score: -0.761 Hold/Accumulate Upgraded
Predicted Opening Price for Camtek Ltd. of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $75.01 ( 1.14%) | $75.87 |
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 | 77.96 | 2.75 % | |
| R2 | 76.83 | 1.27 % | ||
| R1 | 76.13 | 0.347 % | ||
| Current price: | 75.87 | |||
| Support | S1 | 73.88 | -2.62 % | |
| S2 | 73.18 | -3.54 % | ||
| S3 | 72.06 | -5.03 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 82.07 | 8.17 % | |
| R2 | 80.38 | 5.94 % | ||
| R1 | 76.84 | 1.28 % | ||
| Current price | 75.87 | |||
| Support | S1 | 75.49 | -0.501% | |
| S2 | 75.20 | -0.88% | ||
| S3 | 74.68 | -1.57% |
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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