Technical analysis indicates a bearish outlook for the CEI stock Prediction. For the upcoming few days, CEI is anticipated to trade in a range between $1.70 and $3.
CEI Stock Prediction: Current Price
CEI Stock Prediction: Recent Activity
- Previous 5 Days: 7.6%
- 3 recent months: -77.1%
- YTD: -95.2%
Technical Analysis of CEI Stock
Since March 2022, CEI has dropped from over $1 to under $0.10 over a nine-month period. Its stock performance this year has been among the worst.
After a 1-for-50 reverse stock split in December, Camber Energy saw a significant increase in value; on the day of the split, CEI crossed the $7 mark.
The number of CEI shares was drastically reduced as a result of the reverse split. Following this action, the number of shares that were authorized fell from 1 billion to 20 million, while the total number of shares decreased from 814.4 million to 16.3 million.
The majority of the gains CEI had after the reverse split, though, were lost. For the majority of 2023, CEI declined. What CEI did in January 2023 is listed below:
Results on the Final Trading Day
- Price at close: $2.18
- $2.29 Open Price
- Gain: -4.8%; loss:
- $38,350,714 in market value
(Daily) Indices
Following a few days of declining prices, CEI gave up the majority of the gains it had managed to achieve following the reverse stock split.
However, CEI gained about 27.5% on the final trading day, and the price surpassed $2.
The price for CEI is $1.74 as support and $2.90 as resistance. In the event that CEI overcomes this resistance, it will probably surpass $3.
The 50-day MA is being retested by CEI right now. The CEI is most likely to surpass the 50-day MA on the following trading.
More buyers have entered the market, according to the CEI’s RSI, which is 60.24. It has been trending upward and is probably about to cross over into overbought territory. The CEI is bullish overall.
The over brought region is where the CEI Stochastic RSI is located. The 14-day moving average has been crossed.
The signal reads “buy.” The MACD series itself has moved above the 9-day EMA on the MACD chart, and it is now emitting a Buy signal. The volume of CEI trades has increased.
Today’s CEI Stock Price Prediction
Overall Prospects: Neutral
1 Market Intelligence: Partially Negative
1a Market Information: Neutral
Technical Recommendation 1b: Sell
- Wisdom of the Crowd: Positive
2a. Online commotion: Higher
- Social Media Attitude: Higher
CEI Stock Prediction: New Information
Advice from NYSE to CEI: NYSE warned Camber Energy that it’s stock average price had been less than $0.20 per share for more than 30 days of trading and gave a deadline of May 7th, 2023, for improvement.
A reverse stock split is one of the options the company is considering as a way to regain compliance.
After the FED raised interest rates, the price of oil decreased. The U.S. Federal Reserve recently increased interest rates by 75 basis points.
Since 2008, these rates have not been this high. The price of oil decreased as a result of this rise in interest rates. Higher interest rates result in a stronger dollar, which lowers global oil demand and raises the price of oil for non-dollar nations.
The subsidiary business submitted a fresh patent: In August, Viking Energy Group, the principal holding company for Camber Energy, disclosed that Viking Protection Systems, a division of that company, had submitted a patent application for its innovative approach to protecting electric transmission lines.
Generally, In the electric transmission system, line breaks caused many deaths. In order to prevent the damaged lines from making contact with the ground, Viking has developed a system that cuts off the power.
Forecast for CEI Stock: Q3 Results
- This company has $2.4 million in cash and cash equivalents, compared to $33.1 million in total long-term debt.
- Its EPS in the second quarter was $0.01, but it is $-0.05 this quarter.
- Comparatively to Q2, when it had a net income of $4.5 million, it experienced a loss of $23.2 million.
- Its Q2 EBITDA was $0.6 better off than its $0.4 loss in the third quarter.
- Compared to $0.17 in revenue in Q2 of the same year, CEI reported $0.15 million in revenue in Q3.
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Why is the stock chained to the Premises, asks CEI Stock Forecast.
The shares dropped 91%, roughly reaching a price of $.11. Since the stock’s creation, the accumulated shortfall in retained earnings has increased, reaching $481.2 million at the end of 2021.
The stock also has a current ratio that is alarmingly high at 0.05%. Since the stock’s financial results show no evidence of improvement, one may decide to sell it.
Investors should consider the success of CEI’s subsidiary companies and whether they still want to take a buy position in the company.
For instance, the beginning of the now patented technology’s use in the treatment of medical waste or the commercialization of that patent may immediately have a little positive impact on the parent company’s stock price.
CEI Forecast: Summary
The stock of Camber Energy has not been doing well; it has dropped 94% since last year and given the current economic climate—a slowing economy, rising interest rates, a strong dollar, and a recession—liabilities Camber’s now outpacing its overall assets. Thus, it is not thought that this stock is a good investment.
FAQS
Will CEI Reverse its Split?
On Wednesday, Camber Energy (NYSE: CEI) disclosed the completion of its 1-for-50 reverse stock split. The company’s shares will continue to trade on the NYSE American under the symbol “CEI” in accordance with the reverse stock split, although they will do so with a new CUSIP number, 13200M 607.
Why did the CEI stock increase?
For the first time in months, Camber Energy’s (NYSEAMERICAN: CEI) stock price has increased recently. Of course, given how oil prices are now behaving. Prices for crude oil are rising to levels last seen in 2008.
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