thetechnicaltrader.net

OTCBB:

FXPE
SNEN*
CNEH**
CHCG*
OCTL*
CHND*
EESH
ABAT*
TNXI
AAGH
CHNG
GSHO*

Major Exchanges:

SWKS
HLIT
VDSI
PGJ
GMST
HOKU*
XOMA*
NFLD** - High Risk Momentum Play

About Advanced Battery Technologies, Inc. Founded in September 2002, Advanced Battery Technologies develops, manufactures, and distributes PLI batteries using lithium cobalt oxide anodes to overcome many of the shortcomings associated with other types of rechargeable batteries. ABAT develops PLI batteries for use in electric vehicles, mine lamps, and consumer electronics, including cellular telephones, laptop computers, and digital cameras. ABAT maintains research and development, and manufacturing facilities in Harbin, China, and administrative offices in New York, New York. Additional information about Advanced Battery Technologies is available at www.abat.com.cn.

For those who have followed my trades for some time are likely familiar with this stock as i’ve traded it in the past when it jumped from $1 - $2 in a very short period of time which lead to high % points for us Since then price made another quick run to $3 that i sat out on. Currently price is in the middle of what appears to be a second attempt at making a breakout of an ascending triangle chart pattern that looks to me could be the catalyst for ABAT’s move to new all time trading highs.

As you can see from the enormous jump in share price from the .50’s to todays closing price at 3.25 there has been significant growth in ABAT’s fundamentals backing this bullish stock. In 2005 ABAT reported $4.2 million in revenues in a net loss of $158k which increased dramatically to end the year of 2006 with $16.32m on $5.9m in net income aka around a 4000% increase in annual income. Currently for the year 2007 ABAT already has $13.1m in revenues on $4.53m net income so the growth for ABAT is still in full force, almost outperforming 06′ in the first 1/2 of the year while continually signing new contracts.

As the growth story continues, ABAT at todays price of 3.25 looks cheap and is trading below the industry average P/E ratio of 21.7x at 16x earnings. ABAT hasn’t provided any future estimates nor has any analysts, though the company has a current record backlog of $33m in revenues which is very impressive. The companies growth is sound and the financial condition is solid. At these prices it looks like there is room for some upside. Every trade i enter i look for 20% minimum gain, 10% maximum loss. Those odds look like they’re in our favor as $4/share for ABAT look in near sight which entails a 23% gain. Recent Headlines:

I think its probable that we could possibly see some profit taking in tomorrows session with a pull back near the breakout support around 3.13 which would be an optimal entry for this chart pattern imo.

BUY ABAT.OB