On Wednesday evening, Benzinga asked its Benzinga pro community which tickers they would like to have analyzed. Benzinga selected these two tickers for technical analysis from the responses.
Pro users Chrystal wanted to see a technical analysis on Camber Energy Inc (NYSE: CEI) during Dealer101 chose Aprea Therapeutics Inc (NASDAQ: APRE).
See also: Why Camber Energy Shares Are Going Up
The camber energy diagram: Camber Energy went into free fall, closing nearly 50% lower on October 5 when Kerrisdale Capital released a brief report on the company. The stock continued on the downside Wednesday but broke to a key support level at the 86-cent mark and rebounded slightly.
On Thursday, Camber Energy climbed back through a resistance level at the $ 1.36 mark and ran to another resistance level at $ 1.84 on a large bullish volume. By early afternoon, over 451 million Camber Energy shares had changed hands, compared to the 10-day average of 556.25. The high volume suggests that investor interest in the stock has continued to rise.
Camber Energy is currently trading in a confirmed downtrend, with the latest lower high at $ 3.65. If the stock is about to reverse into an uptrend, it must make a higher low above 86 cents or create a bullish double bottom at the level. As of now, Thursday’s promotion could be a dead or oversold bounce.
The stock trades below the 8 and 21-day exponential moving averages (EMAs), but the 8-day EMA is above the 21-day trend. Camber Energy needs to move towards the $ 2.29 mark in the near future to avoid the 8-day crossing below the 21-day mark, which would be bearish. However, the stock is trading above the 200-day Simple Moving Average (SMA), suggesting that general sentiment is bullish.
- Bulls want continued large bullish volume to push the stock back above the $ 1.84 level, which would bring them within the reach of the EMAs. If Camber Energy can win the area back as support, it will have scope to trade towards $ 2.29 again.
- Bears want to see big bearish volume and drop the stock back below 86 cents, suggesting the downtrend is still intact. Below that level, Camber Energy has support at the 48 cent level.
The Aprea diagram: Aprea hit a new all-time low of $ 3.17 on August 20, marking the bottom of a month-long downtrend. At that level, Aprea reversed price, rising about 77% to the $ 5.63 level where the stock entered a period of consolidation.
During its consolidation, Aprea has leveled off in a pennant pattern on the daily chart with a decreasing trading range on the daily chart. Aprea is scheduled to reach the top of the pennant on October 13th and should break or fall out of the pattern before the date. Because the stock was trading in an uptrend prior to the pennant pattern, the stock is more likely to break away from the pattern in a bullish manner.
Aprea trades above the 8-day and 21-day EMA, with the 8-day EMA above the 21-day trend, both bullish indicators. The stock trades slightly below the 200-day SMA, which is bearish, and on Thursday the stock tested the 200-day value as resistance and mean of the level.
- Bulls want to see a lot of bullish volume and pull Aprea off the pennant, which would allow the stock to regain the 200-day SMA as support. Above the pattern, Aprea has resistance at $ 5.63 and $ 6.15.
- Bears want to see large bearish volumes and break aprea out of the pennant pattern. The stock is supported at $ 4.92 and $ 4.35 below.
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