Thursday, Allied Energy Corp. (OTCMKTS: AGYP) released an update on 2021 operations and its 2022 outlook causing improved investor sentiment, putting AGYP squarely on the radar of traders. AGYP net volume was 829.022K on Friday marking its largest single day increase in the sentiment indicator since last January when the stock started its initial climb.
The 5-day chart below highlights the short-term buy signals AGYP triggered on Friday. Monday morning, momentum could continue with new investors and traders finding the stock on their weekly scans.
A major signal to monitor is the 50/200 day MA cross. Friday, AGYP closed above the 50 day and if it closes over the 200 day in the next few sessions this would probably lead to a cross. If the 50 day crosses the 200 that would be a strong long-term indication of a bullish trend.
Why is AGYP Trending Up?
Success on its recent projects and rising crude oil prices are the short answers. AGYP could accrue revenues over $1MM in 2022 based on data analysis from Thursday’s press release. With crude prices closing in on $90 per barrel, AGYP appears poised to improve its market position amidst global supply chain chaos.
AGYP’s strategy is not to recreate the wheel, but to capitalize on what was left behind. AGYP uses well-remediation technologies to ‘rework and re-complete’ existing wells on mature sites. In utilizing these orphan wells, AGYP is able to generate additional volume of oil and natural gas.
The company is now installing electrical access to their Gilmer site in early 2022. By doing this, AGYP will be able to install their ESP on the Gilmer site and pump more than 1,500 barrels of fluid daily. Adding the ESP technology to the Gilmer site would create a new level of production.
The last few AGYP press releases show a strong growth arch:
Allied Energy Corporation Reviews 2021 Oil Leases Progress to Production and Provides 2022 Outlook https://finance.yahoo.com/news/allied-energy-corporation-reviews-2021-133000251.html
Allied Energy Corporation Outlines Current Activities at the Prometheus Lease https://finance.yahoo.com/news/allied-energy-corporation-outlines-current-133000236.html
Allied Energy Corporation Provides Updates on the Gilmer Lease Projects https://finance.yahoo.com/news/allied-energy-corporation-provides-updates-143000558.html
With several wells pumping fluid already, and new projects underway, the increasingly bullish sentiment could continue causing the above-mentioned indicators to create a major opportunity for investors.
Put AGYP on your watchlist today.
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