Camber Energy Inc (CEI Stock): Ready to rally?

The last time I analyzed Camber Energy was back in March 2022. At the time I was looking for one more high to take place before pulling back against the rally from Februray 2022 low. Firstly, lets review what the company profile:

Camber Energy, Inc. (“Camber”) is a growth-oriented, diversified energy company. Through its majority-owned subsidiary, Viking Energy Group, Inc. (“Viking”), or subsidiaries of Viking, Camber provides custom energy & power solutions to commercial and industrial clients in North America and owns interests in oil and natural gas assets in the United States. Viking also holds an exclusive license in Canada to a patented carbon-capture system.

Camber Energy Elliott Wave view from March 2022

As mentioned above, I was expecting another push higher in black ((1)) before resuming lower. The market had difference expectations. This stock has failed to produce another high and instead pulled back to correct the cycle from the Feb 2022 low. Lets take a look at the adjustment below.

Camber Energy Elliott Wave view from May 2022

Medium term term view from the Feb 22/2022 low at 0.45. The stock currently has 5 waves up from the Feb 2022 low, and has completed the pullback against the Feb 2022 low. This pullback in ((2)) was completed May 12/2022 @ $0.54 . As long as 0.54 remains intact further upside is still favoured to take place. It is very important that the recent Feb 2022 lows remain intact. Any breach of that level could suggest that new all time lows could be on the way. On the upside, the target area for Red III is 4.98 to 7.78.

Share: Feed news

FURTHER DISCLOSURES AND DISCLAIMER CONCERNING RISK, RESPONSIBILITY AND LIABILITY Trading in the Foreign Exchange market is a challenging opportunity where above average returns are available for educated and experienced investors who are willing to take above average risk. However, before deciding to participate in Foreign Exchange (FX) trading, you should carefully consider your investment objectives, level of xperience and risk appetite. Do not invest or trade capital you cannot afford to lose. EME PROCESSING AND CONSULTING, LLC, THEIR REPRESENTATIVES, AND ANYONE WORKING FOR OR WITHIN WWW.ELLIOTTWAVE- FORECAST.COM is not responsible for any loss from any form of distributed advice, signal, analysis, or content. Again, we fully DISCLOSE to the Subscriber base that the Service as a whole, the individual Parties, Representatives, or owners shall not be liable to any and all Subscribers for any losses or damages as a result of any action taken by the Subscriber from any trade idea or signal posted on the website(s) distributed through any form of social-media, email, the website, and/or any other electronic, written, verbal, or future form of communication . All analysis, trading signals, trading recommendations, all charts, communicated interpretations of the wave counts, and all content from any media form produced by www.Elliottwave-forecast.com and/or the Representatives are solely the opinions and best efforts of the respective author(s). In general Forex instruments are highly leveraged, and traders can lose some or all of their initial margin funds. All content provided by www.Elliottwave-forecast.com is expressed in good faith and is intended to help Subscribers succeed in the marketplace, but it is never guaranteed. There is no “holy grail” to trading or forecasting the market and we are wrong sometimes like everyone else. Please understand and accept the risk involved when making any trading and/or investment decision. UNDERSTAND that all the content we provide is protected through copyright of EME PROCESSING AND CONSULTING, LLC. It is illegal to disseminate in any form of communication any part or all of our proprietary information without specific authorization. UNDERSTAND that you also agree to not allow persons that are not PAID SUBSCRIBERS to view any of the content not released publicly. IF YOU ARE FOUND TO BE IN VIOLATION OF THESE RESTRICTIONS you or your firm (as the Subscriber) will be charged fully with no discount for one year subscription to our Premium Plus Plan at $1,799.88 for EACH person or firm who received any of our content illegally through the respected intermediary’s (Subscriber in violation of terms) channel(s) of communication.