Camber Energy (CEI) continues to surge after it announced it acquired IP for carbon capture technology. Pretend analyst Zack Morris priced CEI stock at a minimum of $10 per share. The analysts states that oil and carbon capture technology is hot right now.
While CEI stock is up 680% this year, the analyst also claims to see CEI stock reaching $5 very soon.
What’s going on with CEI stock?
- 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.
Carbon capture market outlook
The carbon offset market may need to grow by as much as 50 times if companies are going to meet 2050 net-zero greenhouse gas emissions goals, a research note from Bank of America said. Offsets issued in 2020 were equivalent to 210 million metric tons of carbon dioxide emissions, which is 0.4% of total global emissions and achieving net-zero energy emissions by 2050 will demand approximately 7.6 gigatons of carbon dioxide offsets or removal.
Governments around the world have set goals of becoming net zero between 2050 and 2060. According to the report published by Allied Market Research, the global carbon capture, utilization, and storage (CCUS) market generated $1.9 billion in 2020, and is projected to reach $7.0 billion by 2030, witnessing a CAGR of 13.8% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Can Camber Energy (CEI) and Viking Energy Group (VKIN) see massive gains?
The pretend analyst Zack may be on to something and both Camber Energy (CEI) and its subsidiary Viking Energy Group (VKIN) will see massive gain in the industries they’re in. However, you should not trust Zack Morris and do your own research, he or the company’s officers has likely sold at the 4 million of shares $4.82 top before halting back down. I have seen this scenario time and time again. People like Zack are a target for public companies and they use the influencer’s followers to push the stock price up before selling shares for a profit.