Alkane Energy - Back to 100p
Says Zak Mir of Zaks-TA.com
The stock market is full of hyperbole, especially from tipsters. I chanced upon Alkane Energy today and my immediate reaction was that it is the best stock chart I have ever seen.

This may sound somewhat melodramatic, but I do not think that it is an exaggeration. As all traders know (including Nick Leeson if you are reading), the way to make real money is by betting the bank on the really big calls. That is the aim of my site. Nick, if you're still there, now is the time to go long of Alkane Energy - it has to be a better bet than a Nikkei arbitrage.

Although a chartist is fully allowed to ignore the fundamentals and look purely at the technicals, the fundamental background to Alkane is a company that declared losses of 284,000 pounds in its last set of results versus 20 million pounds in the previous year. This is a great recovery situation just in financial terms and the hopes of the bulls are carried in the form of a very extended base on the chart below 20p that was in place for nearly three years. The charting rule is that the longer the base, the bigger and more powerful the eventual breakout. This would imply that we are looking at the possibility of a full return to the highs seen at the start of the decade towards 100p.

Only an end of day close below the 10 week moving average on the weekly chart at 19p would even begin to cast doubt on the upside. The minimum expected target in the near term would be the 40 week moving average now running through 40p.

LIZARD

when are the next figures due out???

will find out eggbert get back to you-

apparently tipped in todays IC journal.

good,good.

i think all these problems with supply in russia ukraine will lift energy prices further which should benefit alk- i hope to see some interest next week. lets hope a few new investors saw recent ic article and want in?.

Should be a good short term bounce.In the bigger picture Western countries will have to look at home grown energy sources. Firms like Alkane good really grow if their business was taken more seriously.

You never Know one of the big boys may even come in for them.I think i read AMEC were changing tak,to specialize in energy.They are obiously eyeing any new Nuclear projects but a firm like Alkane could produce massive worldwide growth with the right backing.

P.S. Lizard did you find any info on figures.I cannot find anything on their webpage.

Lizard,

Results are 24 March,AGM ia 25 April.

cheers eggbert, positive start today so far. lets hope we can break forties soon.

i suppose most small buyers on back of ic tip.

It will keep bobbing around until some solid figures come out.

50p is the first real target.

nice if we could break 40p first eggbert. looking ok today so far.

i think alk tipped in money week anyone seen the article?.

It had a solid week.A good start tommorrow may see it push for 50p.If Alk grows steady without any news and then releases good figures we could see a total re-rate.

u got yor wish lizard!

looking ok eggbert slow and steady.

we seem to have stopped some news is what we need or an update- trying to push it up but being pushed back.

UBS increase holding.

prelim's wed 22nd march email from s goalby f director. lets hope they are good.

Cheers lizard.

I think the results will be good.I hope they have some news on new orders and projects.I still think this business has huge potential,if governments were to fully back it.Markets for oil and gas seem to get more unstable every day,we need to fully explore every option.

Mr. Blair will definately chose more nuclear power.He will have to offset bad feeeling about this with new and positive sources of energy.Alkane may just be part of this.

Thats the dream,if not its still a dam good business.

better legislation benefiting alk is set to kick in over the next few years i think eggbert. agree building nuclear will happen but will need to improve poor levels of renewables just 4% at present.

Ticking up today lizard.Why? has it been tipped?