TA only Not about Fundamentals of Co BNK has a very strange chart. It is confusing to say the least. It is like it is in no man’s land & can move in either direction from here. In Jan 2013 the stock created a golden cross did not last very long because in April 2013 it turned into a death cross now. The stock has slipped to the one year support area of about $2.30, which it is holding for the time being. The question is would it move out of this death cross as fast it did in case of Golden cross or show its impact.
There seems to be some indecision among the traders to force the stock in either direction. If it bounces off this area & move towards just above $3.00 area of resistance short sellers get active. Around the support area of $2.30 some covering take place. Under the shadow of death cross for the time being the stock is consolidating in support area. The upside cap from $2.30 to the lower side next support is of same distance & the probability seems to be 50 50. The difference between 50 & 200 ma is small & less than 9 cents so anything is still possible.
The direction of the energy sector may set the direction for this stock.
I like the price still, I am in the wait & see mode only because of the death cross. Will be watching the stock more closly.