Will Camber Energy Stock Ever Start To Cool Off?

Camber Energy Inc. CEI shares were trading higher Tuesday, likely moving as traders circulate that the stock is a short squeeze candidate.

The stock has gotten much attention from traders on social media, trending on sites such as Twitter, Stocktwits and Discord.

Camber Energy was trading 10.11% higher at $3 Tuesday afternoon. 

Camber Energy Daily Chart Analysis

• Shares are continuing to fly higher after breaking out of what technical traders call a falling wedge pattern.
• The stock was getting condensed between narrowing highs and lows before it was able to cross above pattern resistance, breaking out and making a substantial move on a percentage basis. 
• The stock is trading above both the 50-day moving average (green), and the 200-day moving average (blue), indicating sentiment in the stock has been bullish.
• The stock may find support near either of these moving averages in the future.
• The Relative Strength Index (RSI) has stayed very high and sits at 86, putting the indicator well into the overbought range. The RSI shows that the stock is seeing a ton of buying pressure compared to the selling pressure it is seeing.

What’s Next For Camber Energy?

Bullish traders want the stock to continue to run for a bit longer until the stock starts to cool off. Once the stock starts cooling off, bulls would like to see a period of consolidation before more bullish moves in the future may happen.

Bears want to see the stock start to fall and work back down toward where pattern resistance was and fall below it. Bears are also looking to see the stock fall down and cross below the moving averages for a possible change in sentiment.