Camber Energy, Inc (NYSE:CEI) can be volatile due to its underlying statistics and high level of retail investor interest. The stock has just a 25 million share float and high short interest, with 24.97% of the shares held short.
- Camber Energy has, so far, failed to confirm a downtrend by falling under the Oct. 6 low of 86 cents and has instead tightened into a pennant pattern on the daily chart.
- The pennant is technically considered bearish because it was created following a downtrend, but if the pattern is recognized, and high volume enters when the stock breaks up or down from the pattern, there is a clear entry level for either the bulls or the bears.
- Camber Energy has resistance above at $1.84 and $2.29 and support below at $1.36 and the 86-cent mark.
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