Sarhan Live(TM) and the Sarhan Analysis Announces 'Buy' Rating on Symbol: CBWP and Releases Bullish Technical Report
MANDAN, N.D., March 5 /PRNewswire-FirstCall/ -- Crownbutte Wind Power, Inc. (OTC Bulletin Board: CBWP.OB) receives 'Buy' rating and bullish technical report from Sarhan Live(TM) and The Sarhan Analysis. Sarhan Live(TM) Founder, Adam Sarhan is an expert in capital markets and is commonly quoted in the press (Reuters, Bloomberg, and CNBC). This 'Buy' Rating comes on the heels of CBWP.OB signing and approving a term sheet with iStreet Global for $37.5 million dollars in financing for the company's Gascoyne l, 19.5 MW wind project in Bowman County, ND.
Key Drivers and highlights just released in CBWP.OB report include:
- Wind power is very attractive both domestically and abroad and has a very bright future.
- CBWP.OB is properly positioned to capitalize on the explosive growth that is anticipated in this industry.
- CBWP.OB triggered a fresh technical buy signal on Thursday February, 25, 2010 when it surged above its pivot point on heavy volume.
- CBWP.OB continues to see an increase of volume as the price per share is increasing therefore forming strong bullish patterns.
- CBWP.OB forecasts revenues of these three projects together will be nearly $12,000,000 per year. Company believes strategy to get three wind parks under construction by the end of 2010 is realistic, and their efforts to secure $120,000,000 in project financing are well under way.
More highlights from the CBWP.OB report include:
What Is Happening- Strong Price & Volume Action: The stock triggered a fresh technical buy signal on Thursday February 25, 2010 when it vaulted and closed above its prior chart highs of $0.70 on heavy volume. Three days later, the stock surged over +35% and closed in the upper half of its daily, weekly and monthly range which is a strong bullish sign. This robust action clearly shows that large investors promptly emerged and accumulated the stock as it broke out into new high territory. At this point, the stock is poised to move higher as volume patterns continue to be healthy (there has not been any distribution to speak of since the breakout) as the stock continues hitting new highs.
CBWP.OB Near-term Outlook: Crownbutte Wind Power, Inc. is extremely well positioned to capitalize on the explosive growth experienced in the alternative energy arena. Fundamentally, this provides tremendous demand for the company's unique products and services which bodes well for its bottom line.
About Crownbutte Wind Power, Inc.
Established in 1999, Crownbutte Wind Power, Inc., (www.crownbutte.com) is a North Dakota based developer of merchant wind power parks, with a current pipeline of over 640 MW of projects in various stages of development across North Dakota, South Dakota and Montana.
Crownbutte has strategically sized these projects to fit into the existing power grid so as to require only minimal transmission system upgrades, and therefore expects to be able to begin construction and operation much sooner than would be the case for larger projects requiring new transmission.
Contact: Crownbutte Wind Power |
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Terry Pilling, Ph.D. |
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111 5th Ave NE |
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Mandan, ND 58554 |
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701-667-2073 |
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Company information: [email protected] |
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Investor Information: [email protected] |
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Forward-looking statements contained in this press release are not guarantees of future performance, and we cannot assure any reader that such statements will be realized or the forward looking events and circumstances will occur. Actual results may differ materially from those anticipated or implied in the forward-looking statements due to the factors listed in the "Risk Factors" section and elsewhere in our most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q and current reports on form 8-K and other reports filed by us with the Securities and Exchange Commission, and available at www.sec.gov. All forward-looking statements are based upon information available to us on the date of this press release. We undertake no obligation to update or revise any forward-looking statements as a result of new information, future events or otherwise, except as otherwise required by law.
SOURCE Crownbutte Wind Power, Inc.
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