News Flash, Jan. 18: Jericho Energy Ventures just announced that it has led the investment into a company developing a new class of electrolyzer for hydrogen production. The Seed Series fundraising round is for Supercritical Solutions, Ltd., which is developing a new water electrolyzer for the production of low-cost clean hydrogen. Jericho’s US$1.78 million lead investment joins Chris Sacca’s Lowercarbon Capital and New Energy Technology for a total of US$3.6 million. Global mining company Anglo American and Deep Science Ventures are existing investors.
Supercritical intends to use the funds to support ongoing development of its disruptive electrolyzer technology. According to the company, a flaw in electrolyzer design is the "inability to output hydrogen at the pressures required for storage, transportation, and most end-use-cases." Supercritical's disruptive design circumvents these design flaws and eliminates the need for expensive hydrogen compressors in many cases.
Click here for more information.
We have here what looks like a superb entry point for Jericho Energy Ventures Inc. (JEV:TSX.V; JROOF:OTCMKTS).
You may recall that Jericho was originally an oil stock that branched out into hydrogen and it has secured a contract to provide the energy infrastructure for a leading Scottish whisky distillery to enable it to make the changeover to “green energy,” a development which is likely to lead to numerous further such contracts.
On its latest 14-month chart we can see that, following a quite severe downtrend from its highs last February, Jericho has been building out a fine double bottom pattern.
With it now being very close to the low of the second bottom, this looks like a great “buy spot,” so we will now proceed to see additional strong evidence on the six-month chart that suggests it should take off higher from here.
On the six-month, we can quickly uncover strong evidence that Jericho is set to take off higher soon. Over the past couple of weeks, as the second low of the double bottom has formed, several long-tailed bull hammer candles have appeared on increasingly strong upside volume with the last one on Friday being on the strongest upside volume for about nine months, which drove the accumulation line sharply higher.
Together this is viewed as convincing evidence of determined accumulation by those “in the know” which of course means that the stock is very probably going to take off higher soon.
Jericho is therefore rated an immediate strong speculative buy.
Jericho Energy Ventures website
Jericho Energy Ventures. JEV.V. JROOF on OTC, closed at CA$0.58 on Jan. 14, 2022.
Clive Maund has been president of www.clivemaund.com, a successful resource sector website, since its inception in 2003. He has 30 years' experience in technical analysis and has worked for banks, commodity brokers and stockbrokers in the City of London. He holds a Diploma in Technical Analysis from the UK Society of Technical Analysts.
Read what other experts are saying about:
1) Statements and opinions expressed are the opinions of Clive Maund and not of Streetwise Reports or its officers. Clive Maund is wholly responsible for the validity of the statements. Streetwise Reports was not involved in the content preparation. Clive Maund was not paid by Streetwise Reports LLC for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Additional Clive Maund disclosures are listed below.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Jericho Energy Ventures Inc. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Jericho Energy Ventures Inc., a company mentioned in this article.
Charts provided by the author.
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.