NEW BULLISH Plays
Banner Corp. - BANR - close: 29.49 change: +0.29
Stop Loss: 28.90
Current Gain/Loss: unopened
Entry on November xx at $ xx.xx
Listed on November 20, 2012
Time Frame: 8 to 10 weeks
Average Daily Volume = 157 thousand
New Positions: Yes, see below
Why We Like It:
BANR is a regional bank in the upper northwest of the U.S. Shares have been consistently working their way higher for months. This month the stock has been consolidating between its longer-term bullish trend and resistance at $30.00.
The stock looks poised to breakout past $30 and hit new multi-year highs. Tonight after the closing bell it was announced that S&P was adding BANR to their small cap 600 index. This could be the catalyst to get BANR past the $30 level.
I am suggesting small bullish positions if shares can trade at $30.15 or higher. However, if BANR were to gap open above $30.50 we will not open positions.
NOTE: BANR doesn't move very fast. This trade could take a couple of months.
Trigger @ 30.15 *Small Positions* (No trade on a gap above $30.50)
Suggested Position: buy BANR stock @ (trigger)