Tuesday, November 18, 2008

Your Call: Bank of Ireland

The new YourCall feature on our stock charts allows our chartwatchers to give their projections for their favourite stocks. With its launch less than 24 hours old we have already had some activity in the community.

Bank of Ireland's suspension of its dividend and subsequent removal from the Dow Jones STOXX Select Dividend 30 and DJ EURO STOXX Select Dividend 30 Indices contributed to its eight consecutive decline; a decline from 'highs' of €2.38 in early November to Monday's close of €0.83.

My own personal call is looking for a retest of November highs near €2.38 with a stop below Tuesday's intraday low (which may yet go lower) at €0.79. JH has gone for a short term target near Monday's highs at €1.10 with a call made from Monday's close at €0.83; JH called a stop at €0.76. TestUser1 (aka Zignals CTO) made a call during Monday's trading at €1.03 but that position was cooked with today's intraday drop to his stop at €0.82.

Do you have an opinion on Bank of Ireland (or another stock)? Make your call and let us know what you think.

Dr. Declan Fallon, Senior Market Technician, Zignals.com the free stock alerts, market alerts, and stock charts website