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The Governor and Company of the Bank of Ireland Message Board

  • binx944 binx944 Dec 21, 2010 7:50 AM Flag

    IRE up 3% Pre Market and BIR up 8%

    Bank of Ireland is going up. The dilution is way over priced at these levels.

    2.2 Billion
    700 Million already raised last week NO DILUTION
    200 Million left to raise in Debt Swap NO DILUTION
    1.3 Billion Left, we're knocking this requirement down fast.

    200 Million is only an estimate for the Debt Swap but remember estimates for the 700 Million were well below 700 Million.

    The Stock is currently at its 50 day moving average in premarket, which has been a resistance for the past week or two, a strong breakout above the 50 day moving average will push us towards the 100 day moving average currently at $3.28. I don't expect much resistance at the 100 day moving average. The next resistance will be at the 200 Day Moving average which is currently 4.76.

    Once the 20 Day crosses the 50 day (which they are narrowing in on) we'll see that break above the 100. With a climb of the 50 day above the 100 day we'll see a breakout to the 200 day. At that point we'll have three bullish cross overs in moving averages and shorts will begin to cover.

    Bottomline, fundamentally and technically this stock has one way to go... up... significantly.

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