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.

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.

i think alk got a decent write up in shares magazine in review of aim mkt. haven't seen it but tipped it was in this weeks edition.

Next Results when anyone please?!

there you go gdp. sept 20th.

a positive update. hopefully steady the ship and may attract new inv?.

lizard,

do we know where the new sites will be?
have they started building them yet?
they keep mentioning them but i don't remember any firm details.

some decent volume today. reporting next wednesday expected maiden profit for company. if they deliver this we could see some investment coming in.

Large X trade of 2 million also a late trade of 2 million.... could be a positive sighn

Couldnt put up with the losses, sold out a while ago. didnt want another SEO in my portfolio.

Hi Lizard

The two new plants, at Mansfield Woodhouse, Nottinghamshire and Whitwell, Derbyshire, have a combined generating capacity of 2.7MW. Added to the 5.4MW output from existing plants at Markham and Bevercotes, this takes Alkane?s generating capacity in the UK to 8.1MW.

Where are the results? - MoneyAM only has 'Notice of Results'?
What do you think about ALK's prospects now?

Very little anywhere to base it on Interims due 20th Sept and today is a surprise along with AFE. Just hoping that someone knows something early.

yes lsquash- capacity slowly increasing and pro2 at record levels. need to deliver expected profit next wednesday. would like to see them expand out of UK into Europe. massive potential in China also Russia and India. for CMM. they have the capabilities to progress into CBM (coal bed methane) contracts, as steve goalby suggested when i asked about this.

Two sites and some money sounds possible!

looks like a good deal money v useful at this time and would think these sites could have more potential. await wednesday's results.