Altair Nanotechnologies (ALTI) Breaking Out Of Bullish Formation

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09:19:09 am on May 11, 2009

Altair Nanotechnologies (ALTI) is breaking out of a bullish wedge formation this morning and making a run at the 200 day moving average with very heavy volume on the buy side.  I’m not seeing any news this morning so it may have something to do with an article over at CBS Marketwatch late Friday written by John Dvorak who is intrigued by Altair’s new lithium-titanate battery being tested by the UK’s Lightning car company and at least one US automaker.  The battery charges in minutes and has a theoretical life span of 5000 charges.  There really isn’t anything new here and ALTI’s batteries have had some problems in the past, not to mention they are still very expensive so it will be interesting to see if this pop can hold up.  A few weeks ago we covered the news that ALTI was shipping its lithium-titanate batteries to the US army for testing

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