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.

more buying somethings going on?.

200k T before and after close again.

They must be sells else the share price would have moved up today on that buying volume!!!

not necessarily imo buys no ramping.

more attention on green/ alternatives companies in media . some slowly making profits. think alk should pick up here. shareholdings rns friday.interesting.

.

Big firms they can use it as a tax loss.

blimey is that a positive rns from alk i see before me!.

Hey this could get back to what I bought them at 17p????
Sat quietly in an ISA though so don't mind.

LS,
Barclays Stockbrokers made me take these out of my ISA since they are not quoted on a recognised Stock Exchange under Inland Rev rules. However , they do qualify for reduced CGT liabilities if you hold over a year , and they go even higher!

More than doubling the UK generating capacity vs earlier this year when the business was already profitable and generating cash, has to be very bullish. DYOR.

Finally,good news from Alkane.They should turn this into profit this time.Could Alk finally become the nice little business it has so often promissed?

Canary 9
I had to remove 6 other stocks from my ISA due to Berlin Bremen but ALK are also on the Munich exchange from memory so kick Barclays butt and get them to reinstate!
Can check if you need confirmation only from memory.

LS, would appreciate you checking for me. I am having running battle with them over these issues. Who holds your ISA?

Natwest Brokerline will confirm with them now.
Just confirmed dual listed also on Munich so can be held in an ISA.

Alkane plc in the Times today as smaller stock to watch. broker target 33p.

Any joy Canary9?

some decent buying today.

Looks good could get back towards sp from 6 months ago.

LS, haven't contacted them yet as I've been away, but will deal with them this week.
Thanks,

MM today even worse than normal a sell at 21.60 and they drop to 20.50! Still up though and looks good for 30p in the mid term.