Message #18 From:
TheMachine Date: April 16, 2008 12:44:21 AM
CCM Research Chief Technical Analyst, Jason Suttmeier, has written a technical research report on Nevada Geothermal Power Inc.
TORONTO, ONTARIO--(Marketwire - April 10, 2008) -
(TSX
VENTURE:NGP)(OTCBB:NGLPF)
Nevada Geothermal Power Inc. is a renewable energy company
developing geothermal projects in the United States to provide
electrical energy that is clean, efficient and sustainable. NGP
currently owns 100% leasehold interest in four properties: Blue
Mountain, Pumpernickel, Black Warrior, all located in Nevada and Crump
Geyser in Oregon. These properties are at different levels of
exploration and development. NGP estimates a potential of approximately
150 MW to over 200 MW from the current leaseholds enough power for
200,000 homes.
In the report the analyst states:
"Nevada Geothermal Power Inc. (NGP) is currently trading above
the key 5- week modified moving average at 1.087 and weekly sentiment
is currently rising."
"My model shows quarterly support at 0.937 with a weekly pivot at 1.113 and monthly resistance at 1.252."
"The 50- week and 200- week moving average provide additional supports at 0.983 and 0.822."
