BSI's stock price will easily recover back to $3.50 - $4.00 resistance by the end of Nov. due to the improving numbers that will be shown in 3rd Qtr. 2012 financial report (due @ Nov. 30th) and the dramatic rise in valuation of their real estate unit already reported.
4th Qtr. results won't be shown til probably the end of Feb. 2013 but should bring in more of the same numbers recovery and the stock price IMO will break out above $5.00 by the end of Dec. 2012 to Jan.2013...
Plus don't forget a decent divvy at years end.
Any opinions? (excluding feistywifey, the Doomsday Fabricator)
That would be nice but I'm afraid it depends more on Greece, Spain, France (dept) China (is slowing down, real-estate boom), US (election) and many others. So if no other crash or worldwide panic comes I would say it won't get above $3.50 at the end of the year. Yes the numbers are improving but their core business (retail) has no future. Btw did you notice the volumes are decreasing?...look's like another resistance for a while.
The stock price has now broken out of its trading range... passing the 50-Day Moving Average of $2.20 and also passing the 200-Day Moving Average of $2.44
Spurts of high volume accompanied by low volume indicates that institutional buying is most likely occurring in anticipation of BSI's turnaround... which is definitely happening in real time.
The world economic macro-picture is a factor but let's not lose site of BSI's improving micro-picture and what the company offers to Israel's fast growing economy... food and household goods, fuel, telecom, and real estate rental space to live and work in.