Fugitive father and son Gino and Mark Stocco may have left Victoria or be headed to South Australia to avoid the police now swarming along the NSW border.
Police have acknowledged this possibility given the last confirmed sighting of the pair in Victoria was when they rammed a police car in St James on Thursday afternoon.
Victoria's Assistant Commissioner Rick Nugent says police are keeping an open mind on their location.
"Yes, it is possible they have left the state," Mr Nugent told reporters on Saturday.
"We do believe though that their knowledge of this area is having them continue to stay within this area.
"We believe they are camping out in the bush, they are trying to stay low and they are trying to avoid being seen."
Mr Nugent said it appeared the Stoccos only come out of the bush when they need more supplies.
Gino, 58, and Mark, 35, were spotted at a supermarket in Bairnsdale, near Victoria's southeast coast, on Wednesday.
Each time their stolen white Toyota LandCruiser is seen it looks slightly different - another sign they want to remain undetected in one place rather than head for open country.
They have switched from NSW to Victorian number plates, removed a decal and have displayed an orange flashing light or L-Plate. They are also known to be carrying SA number plates.
The fugitive pair, who have been described by police as "modern-day bushrangers", could also be holed up on a vacant bush property.
Heavily armed police are patrolling areas around Yea, St James, Wangaratta and Bairnsdale with specialist NSW police patrolling the border.
Police have moved their incident control centre from Yea to Wangaratta.
They received more than 20 calls on Saturday about suspect vehicles but most were able to be ruled out.
The public are urged to continue reporting possible sightings and to not approach the men as they have a high-powered rifle and are considered dangerous.
Police are also trying to avoid a potential shoot-out.
"We need to ensure we can protect the public, the police, the community and the fugitives themselves," Mr Nugent said.
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