ADES (ADA-ES) Stock Chart

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Hi Brett
Could you take a look at ADES..I am short the stock from 25.37 when it dropped on 3/20
Could you give me your technical opinion on the stock right now.
I believe if the stock can get below 23.70,I can look for the 22 area?

This stock is on a tear, recently they came out with this news.

Recently posted a $13.8 million fourth-quarter profit because of a jump in revenue from new coal facilities, which the company expects to add significantly to revenue in the years ahead. Shares hit their highest level in seven years.

The Littleton, Colo., company’s products help coal-burning power plants reduce emissions and meet government regulations. ADA-ES said that in 2011, its Clean Coal Solutions joint venture installed 26 new facilities. The company said contract negotiations were continuing on many of these units, but it expected that several would be operating by June.

The company said it expects that by the end of the year, units in operation will generate $50 million in annual pre-tax income and annual revenue of $100 million over the years covered by a renewable energy tax credit.

That’s a big bump to the company’s business. In 2011, ADA-ES posted a net loss of $19.9 million, or $2.48 per share, on revenue of $53.3.

For the quarter ended Dec. 31, ADA-ES’ profit amounted to $1.53 per share and compared with a loss of $3.1 million, or 42 cents per share in the same quarter of 2010.

Revenue nearly tripled to $24.6 million from $9 million. The company’s refined coal revenue more than tripled to $20.3 million, thanks to $17.4 million in coal sales stemming the demonstration of new facilities that haven’t officially begun production yet.

I do believe that this stock will come down to the $22 level. The float is very low so be careful if this starts to make new highs. The buying power seems to have came down.  You may even get as low at $19.50 in the next months or so. I would be comfortable in your position right now. Once again, just be careful if it starts to make a new high because with a low float, this thing can climb like crazy.