$Camber Energy(CEI)$Up, up and away to $2 to $3 and beyond.
Camber Energy Inc (NYSE:CEI) shares were trading higher Tuesday, likely moving in continuation after the company signed a licensing deal to give its subsidiary, Viking Energy Group, exclusive rights to use ESG’s CO2-free power generation technology in Canada.
Camber Energy was up 13.67% at $1.58 andup to $1.80 during trading hours on Tuesday.
Camber Energy Daily Chart Analysis
Shares were falling for a few months but recently broke out of pattern resistance, flying higher in 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.
The stock is trading above both the 50-day moving average and the 200-day moving average, 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 been flying higher the past couple weeks. This shows that many buyers have been pushing into the stock and there is much more buying pressure than selling pressure in the stock.
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