BanyanTree

Hey all,

My recent browsing of charts has not shown me much that is interesting. Next week, I may not be active since I do not see many events happnening on charts.

Anyways, I have a chart of BanyanTree for today.

BanyanTree has been in a good uptrend recovering from the 2008-2009 crash. The pre-crash region of $1.00 – $1.10 serves as immediate support for now. Price stopped short at that level in 2009, before trading down and then up in a rounding fashion in 2010. Now, Banyan is comfortably above $1.10. I have fitted a rough parallel channel in Banyan’s chart.

I like the overall picture of BanyanTree’s chart. With no resistance levels overhead, Banyan has some upside potential for the year ahead. I would be looking for a better level before looking to get in on BanyanTree though. The 200-day MA is coming up from under the channel, so any slide downwards should be caught by the channel.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

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