Lime Energy Co. (NASDAQ:LIME) Stock Goes Green

One day after the huge battle between the bulls and the bears, forming the appearance of Doji at the chart of Lime Energy Co. (NASDAQ:LIME) stock, the final count down show the notable predominance of buyers.

On Friday, the shares of LIME rose by $0.115, or 3.07%, to $3.865 in the session. The volume traded was enormous. It succeeded the representative level of four times the average for LIME.

The company’s announcement about financial results for the three-month period ended March 31, 2010 being not so optimistic were not able to convince investors to further pull back the LIME stock price.

Like a golden egg for those that like long positions, the chart and technical indicators of LIME energy stock are flashing green line for its further uptrend.

The volume traded and the long upper wick of the Friday’s candle show the potential for the further price increase.

MACD and the RSI also show that in the short term the green momentum will continue.

In its reports, LIME reported decrease in revenues in comparison with the first quarter of 2009 and increase of loss.

These facts should not be treated unilaterally. The decline of revenues is mainly in company’s commercial and industrial markets and the public sector market. LIME hopes, that that for them, the flow of funding will continue to grow over the coming months.[BANNER]

The potential for the LIME growth is huge, if we take in consideration facts in the report of the Consortium for Energy Efficiency, published in February this year, in collaboration with the Institute for Electric Efficiency and the American Gas Association.

It sates, that Electric utility energy efficiency budgets grew by 60 percent over the past two years, reaching $4 billion in 2009 – up from $2.5 billion in 2007.