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.

not a great time for energy sector- would expect better performance in winter months. we are now 50% off recent highs. hopefully we will get a base here and trade back to mid forties like last time although who knows?. potential still there but more mid long term.

Thanks Lizard for putting my mind slightly more at ease as i bought again at 30 thinking this was the bottom just have to wait and see if the final results are as predicted if so the we should be back up to the 40+ area.

still very frustrating keysersoze- i am looking to increase holding but where to call the right level to buy is another matter?.

Think they do have to show the situation at Pro2, as indicated in the HJ report. Germany is in discussion about the situation of nuclear power. At the moment they are supposed to be shut down in future, but RWE is lobbying to keep them open for a lot longer. This combined with the need to save money might have a negative impact on the green and clean sentiment. Nothing has change from the investment case.

Any thoughts on the general trading of Alkane.I think this is the lowest sp i dont realistically see it falling below this level much further IS THIS THE BOTTOM !!!and yet another little top up to average out my holding.There also seems to be a lot of unknown trades of late any ideas as to why??

Keysersoze.

i emailed the finance director- response was that he thinks largely volumes have been small with small investors profit taking after a decent year on year rise. i also have topped up here after a recent poor performance.

Thanks Lizard do you think this is the bottom now or more to come ??? seen as you seems to be the only person on this board with any views.

Keysersoze.

my thinking is there is still a lot of empty space below this price,look at the chart i will buy back in but could get 20-22 yet .

possible but could also see support at this mark. news thin on the ground for alk?> hence i think the reason for the spread -if the offer comes down i will buy then with bid in same place?.

better volume today -next to see!

Lets hope the bottom has been reached and it all the way back up to the 40`s again some big sells today hopefully that will be the last of them. No news is good news normally but not in Alkanes case some positive news will get this stock back on track.

alk very slack on news- i suppose better to wait for one v good news update- would expect more news flow as they progress. hard to predict where this is going short term?.- will be buying in again next week dep on where we are?.

Well Lizard looks like the bottom has finally been found 90k buys V 15k sells so far on todays trading what do you think ???

still poor volume though keyersoze- could do with a positive update or something.

Agreed Lizard but its a step in the right direction after constant days of sells and not a sniff of any buys at all.If you dont mind me asking Lizard what other stocks do you hold?

Keysersoze

recent two are costain (cost) and high risk gold oil (goo).

Lizard do you have any views on Dowgate Capital (dgt) as this looks by far one of the best up & coming stocks i have seen have a look and let me know what you think i bought 2m@ 0.050p.Will look into your 2 investments later on tonight.

Over & Out

Keysersoze

this really is having a sh!t run at the moment!-

NO SH1T Lizard after the rapid climb earlier this year i didnt think it could fall so fast the bottom seems yet to be reach. Also no encouraging news no steady buying just constant sells !!!

what is also very annoying is that when we were trading in an aggressive uptrend they released an rns stating sees no reason for sp movement- yet when we have a fall of nearly 60% they say f all. they need to play the mtk better- an encouraging update or something?. TRYING TO KEEP THE FAITH KEYSERSOZE!.