Cyber Enviro-Tech, Inc. (OTC:CETI) is a green water science technology company focused on remediating contaminated industry wastewater – especially in the oil and gas industry. Recently, CETI announced the launch of new technologies in the fields of oil production and water filtration. Upon the news, investors’ anticipation resulted in a massive trading volume of $1 million which drove over 400% increase in the PPS. With this momentum, investors are bullish CETI could be among the best tech penny stocks to watch this week.
CETI Stock News
On February 15th, CETI announced the launch of its new oil production and water filtration technologies. The company intends to deploy its technology on a 500-acre mineral lease – which is estimated to have over $4 billion barrels of oil reserves. With this technology now in place, CETI has a competitive edge over other companies and is well-positioned to capitalize on the lucrative oil industry.
From an economic standpoint, CETI’s new technology will help companies reduce operating costs of oil production by over 60% – mostly because it replaces the 100-year-old pump jack and sucker-rod technology with efficient green technology that lasts between six to eight years while reducing power costs by more than 40%.
Additionally, CETI’s smartflow water technology will eliminate costly fines for oil field operators since it meets and exceeds all EPA standards. This comes as no surprise given that the technology is not only eco-friendly but also eliminates expensive fines for oil field operators who don’t adhere to EPA regulations. For this reason, the company’s CEO – Kim D. Southworth – believes the technology will be essential as the “cost savings and positive environmental effect on the industry cannot be overlooked by oil field operators”.
To capitalize on this, CETI is currently in negotiations with other oil field operators to facilitate the use of the new technology on their fields. If successful, these agreements will be based on a revenue-sharing model to renew existing wells and ramp up production – which could serve a solid revenue stream for the company going forward.
As it integrates fourth industrial revolution technologies, CETI is delivering on its mission to clean water contaminants – whether biological, chemical or metal. As of now, the company will continue capitalizing on the mining, agriculture and oil and gas production industries. However, CETI has plans to expand and apply its technology beyond these industries in the near future.
With this in mind, CETI could see a run-up soon as investors are now bullish on the technology’s potential. In fact, investors believe the company is currently undervalued given its market cap of only $113.7 million. However, this indicates that CETI has a lot of room to grow as the company releases more updates. In light of this and its low float of only 2.7 million, CETI could be one of the most promising tech penny stocks this week.
@ShortSqueezed1 is bullish CETI could hit $2.05 given its low float and list of catalysts.
CETI is currently trading at $1.09 with a primary support at .42 and a secondary support at .12. Following its recent run-up, the stock shows a new resistance at 1.67. The MACD is bearish following a series of bullish crossovers. Meanwhile, accumulation is on a downtrend following a major spike on the 15th and the RSI is cooling off at 56 after being extremely overbought at 90 earlier this week.
The fall in accumulation could be attributed to the increasing number of investors cashing out for profits following CETI’s latest price surge. Even though the MACD is on a recent bearish crossover it seems poised for a bullish crossover. With this in mind, investors could wait for the RSI to cool off before finding a good entry point on CETI – one of the most promising tech penny stocks this week.
CEI Stock Forecast
In light of the company’s new technology, investors are calling CETI one of the hot tech penny stocks of the week. With its constant efforts to grow and develop, CETI could be set for another run-up in the near future as the company intends to expand its technology into many other industries. As shareholders await more information regarding the company’s future plans, they are bullish on the management’s initiatives to position CETI within the lucrative oil and gas industry. If successful, CETI could retest its resistance at $1.67 sooner than expected.
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