OPAL Fuels ( OPAL) captures harmful methane emissions at the source and recycles the trapped energy into a commercially viable, lower-cost alternative to diesel fuel. The company also develops, constructs, and services renewable natural gas (RNG) and hydrogen fueling stations.
This sounds like one part of our energy future. Before going further I want to point out that OPAL is a relatively new publicly held company and its trading volume is light, so you should dig into the fundamentals before making a decision on whether to purchase shares.
Now let's charge ahead.
In the daily bar chart of OPAL, below, I can see that share prices have been trending lower the past year but now have stabilized above the bottoming 50-day moving average line and poised to close above the 200-day line.
The trading volume has increased since December but it remains overall on the lighter side. The On-Balance-Volume (OBV) line has moved lower the past year in a "step down" fashion. The trend-following Moving Average Convergence Divergence (MACD) oscillator is above the zero line in bullish territory.
In the weekly Japanese candlestick chart of OPAL, below, I get a different perspective on the price action. The shares are trading above the bottoming 40-week moving average line.
The trading volume is light but the math-driven OBV line shows gains since the middle of May. The MACD oscillator shows improvement since January along with a bullish divergence. The MACD oscillator made a higher low in May when prices made a lower low.
In this daily Point and Figure chart of OPAL, below, I see a potential price target in the $9 area.
In this second Point and Figure chart of OPAL, below, I used weekly price data. Here the software suggests a price target in the $10 area.
Bottom-line strategy: There are many good ideas out there. We all would like to get in early on the "next new thing," but let's go slow. Good ideas also need good management and other things to grow into good or great investments. I like the price action OPAL so far but readers should do some homework before jumping in.
