Alternate Energy Holdings Inc. (PINK:AEHI) is testing the support once again and those holding this one long could be shaken overboard if it drops below $0.60. This is, however, a seemingly short term weakness with all the story behind the stock.In attempt to find more buyers, the price bounced the support level once more, but since the last rally attempt resulted in comparatively long and slow decline, the odds of sustained appreciation are currently not too favorable. If the support is broken, the price could fall as much as 33% to $0.40, where another significant level is found.[BANNER]
One of the things to keep the price intact on the short term run was a recently published thought of Don Gillispie, CEO of Alternate Energy Holdings, Inc. He has come forth to declare nuclear reactor projects are the most prominent job creators around. His interview was published in a press release early on Friday. Mr. Gillispie pointed out once again that Alternate is seeking to build two big plants in Payette County, however, he failed to address the most important issue at hand – the funding.
Building costs for conventional nuclear plants reach into tens of billions of dollars. Building nuclear plants should of course get the funding from the government, or should be discarded as failed projects. Having in mind that the funding issue will be addressed only if the projects are approved, which is expected to happen by the end of the year, the company’s share price has plenty of time to swing back and forth without any real direction. Currently, there is little material value behind the loud talks of the CEO.
