You Ask, We Analyze: The Bull, Bear Case For Camber Energy And Aprea Stocks

On Wednesday evening, Benzinga asked its Benzinga Pro community which tickers they’d like analyzed. From the replies Benzinga selected these two tickers for technical analysis.

Pro user Chrystal wanted to see a technical analysis on Camber Energy Inc CEI while trader101 chose Aprea Therapeutics Inc APRE.

See Also: Why Camber Energy Shares Are Rising

The Camber Energy Chart: Camber Energy went into free fall and closed down almost 50% lower on Oct. 5 when Kerrisdale Capital issued a short report on the company. The stock continued lower Wednesday but smashed into a key support level at the 86-cent mark and bounced up slightly.

On Thursday, Camber Energy popped back up through a resistance level at the $1.36 mark and made a run for another resistance level at $1.84 on big bullish volume. As of the early afternoon, over 451 million Camber Energy shares had exchanged hands compared to the 10-day average of 556.25. The high volume indicates there is still an increased level of investor interest in the stock.

Camber Energy is currently trading in a confirmed downtrend with the last lower high at $3.65. If the stock is about to reverse into an uptrend, it will need to put in a higher low above 86 cents, or create a bullish double bottom at the level. As of now, Thursday’s action could be a dead-cat or oversold bounce.

The stock is trading below the eight-day and 21-day exponential moving averages (EMAs), but the eight-day EMA is trending above the 21-day. Camber Energy will need to rise up toward the $2.29 level in the near future to avoid the eight-day crossing below the 21-day, which would be bearish. The stock is trading above the 200-day simple moving average (SMA), however, which indicates overall sentiment is bullish.

• Bulls want to see sustained big bullish volume drive the stock back up over the $1.84 level, which would put it in reach of the EMAs. If Camber Energy can regain the area as support it has room to trade back up toward $2.29.
• Bears want to see big bearish volume come in and drop the stock back down below 86 cents, which would indicate the downtrend is still intact. Below the level Camber Energy has support at the 48-cent level.

The Aprea Chart: Aprea made a new all-time low of $3.17 on Aug. 20, which marked the bottom of a month-long downtrend. At the level, Aprea reversed course and soared up about 77% higher to the $5.63 level where the stock entered into a period of consolidation.

In its consolidation, Aprea has settled into a pennant pattern on the daily chart with a decreasing trading range on the daily chart. Aprea is set to reach the apex of the pennant on Oct. 13 and should break up or down from the pattern before the date. Because the stock was trading in an uptrend prior to forming the pennant pattern, it's more likely the stock will break up bullishly from the pattern.

Aprea is trading above the eight-day and 21-day EMAs, with the eight-day EMA trending above the 21-day, both of which are bullish indicators. The stock is trading slightly below the 200-day SMA, which is bearish, and on Thursday the stock tested the 200-day as resistance and wicked from the level.

• Bulls want to see big bullish volume come in and break Aprea up from 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 big bearish volume come in and break Aprea down from the pennant pattern. The stock has support below at $4.92 and $4.35.