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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Bullboard Posts
Post by PUNJABIon Apr 30, 2013 2:31pm
142 Views
Post# 21320110

TA only Not about Fundamentals of Co

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.

Bullboard Posts