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.

I'm considering cutting my losses and running, what do you guys think/

imo you must be mad!. i'm no expert but the results weren't that bad imo. they reduced operating losses by 68% bought two more mine gas plants and pro2 trading at record levels in first 6 months. imo alk is a long term hold. gdp i'm also sitting on a big paper loss but will hold for a expected recovery and a maiden profit in 06. don't rule out investment in china russia or india big mkts.

what does 'imo' mean?

come on gdp 'IN MY OPINION'

oh ok I have only used this for a year and have no idea what your slang means.

so I have to ask

gdp- are you in goo?.

http://www.goldoilplc.com

are you still in gdp?- there have been a few article tipping them one in business last week and another on aim ofex shares will try to get link!.

Yes I havent ditched just them, it is hard to accept the losses I have. If you could get the link I may be persuaded to hold a while longer. Thanks, GDP.

Yes I havent ditched them yet**

Regarding GOO, I have been out of any Metal or Exploration firm for a few weeks now. I'm switching my interest back to solely renewables and power.

gdp- the write up is on the ad**n thread. can't post.

your decision gdp- makes no difference to me!- i am at the very least giving them until next results to deliver a profit as expected. if they fail to do it then i may consider selling sorry more than likely.

i hope the sp has given them a kick up the backside!.

well i have it that the downtrend line has been broken- way oversold imo 30p target.

Definately oversold and 14million mcap seems far too cheap.
Fed and B of E look set to raise Interest rates futher so Markets could fall yet more which may slow any recovery.

don't know about that b of e has been saying that for months i think it is about 10 or 11 months of holding at 4.5%.

But it appears they may have made the wrong move doing so and may be looking to correct themselves. But we'll see. In the meantime lets hope for a strong recovery.

Yes but unlikely to hold that much further. Looks like a recovery could be on the verge?

the big test is next results that could really start some momentum.

i would like to see some more deals though out of uk perhaps china or?.

When are they scheduled?
Some new deals abroad would be Interesting but I would like too see a positive update on the 2 new sites under development first and hopefully a continuation of Pro2 's excellent performance.