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.

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.

http://www.oilbarrel.com/home.html

alkane energy article today. posted from advfn.

Informative thanks Lizard!

just bought some more @21.7p. not a short term investment this. needs a med long term view imo. changing government legislation will help a lot.

UBS bought a few more million shares.

After the recent good news and two new mines brought on stream why has this fallen by 20-25% since?? Interested in this as green play but also as based around my home town but there seems little support for Alkane in the market.

its a joke really. looking at the trend we are on the bottom hope to see some support and a bounce to maintain it. how can it be worth less following the recent acquisitions of three Coal Mine Methane plants all on stream increasing outputs and cash flow?.

I fail to understand why it is considered "green" - it comes out of a mine I understand, it is not renewable and the exhaust goes into the air.
It might be making use of something that would leak away - but won't there come a time when it fails to seep? The reserves of a mine can be determined by the coal-layer, geology and "estimates" of the cost. With gas it must be considerably more difficult.
Therefore these plants may provide power now, but for how long? The power-level is better than nowt, but it's not exactly exciting - or is it? No, it isn't.
- Most investors will rather take a greater risk, say with Wind, or sea-power where the energy can be "seen" and it looks like it will continue at least for our time.
The Alk power is increasing as more comes on-strream, but what next?, as it starts to drop - which it must since the initial gas has not been tapped and must represent a latent build-up. If the gas is "sucked-out" won't air seep into the mine - how can this be prevented, I wonder?
The Green claim is the issue for me.