Camber Energy Stock Looks Like It's Heating Up Again

Camber Energy Inc. CEI shares are trading higher Tuesday after retail traders pushed the stock up. The stock has a high interest in the FinTwit community and is a favorite among @MrZackMorris, who is a closely followed Twitter user in the FinTwit space.

Camber Energy was up 23.07% at $1.71 at last check Tuesday afternoon.

Camber Energy Daily Chart Analysis

• Shares are trading in what technical traders call an ascending triangle pattern and look like they recently bounced off of the higher low trendline.
• The higher low trendline may continue to hold as support in the future for the stock. The $3 level has been an area the stock has struggled to cross above in the past and may be an area of resistance in the future.
• The stock trades above both the 50-day moving average (green) and the 200-day moving average (blue), indicating the stock is in a period of bullish sentiment.
• Each of these moving averages may hold as a potential area of support in the future.
• The Relative Strength Index (RSI) has been pushing higher the past couple of days and now sits at 50. This shows that the stock is now seeing equal amounts of buying and selling pressure.

See Also: What's Going On With Camber Energy's Stock Today?

What’s Next For Camber Energy?

Bullish traders are looking to see the stock continue to trade above the higher low trendline. Eventually, bulls are looking to see the stock break above the $3 resistance level and have a period of consolidation above the level.

Bears are looking to see the stock dip back lower and fall below the higher low trendline. A break below the higher low trendline may signal that the stock is seeing a trend change back lower. Bears would also like to see the stock fall below the moving averages for a possible change in sentiment.

Photo by Luis Graterol on Unsplash