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Investors look to Lighten Up on Shares of Banro, Shares Down 5.1% (BAA)
[December 13, 2012]

Investors look to Lighten Up on Shares of Banro, Shares Down 5.1% (BAA)

Dec 13, 2012 (SmarTrend(R) Spotlight via COMTEX) -- Banro (AMEX:BAA) is one of today's worst performing low-priced stocks, down 5.1% to $3.00 on 1.0x average daily volume. Thus far today, Banro has traded 209,000 shares, vs. average volume of 202,000 shares per day. The stock has underperformed the Dow (-5.1% to the Dow's -0.4%) and underperformed the S&P 500 (-5.1% to the S&P's -0.6%) during today's trading.

There is potential upside of 62.3% for shares of Banro based on a current price of $3.00 and an average consensus analyst price target of $4.87. The stock should run into initial resistance at its 200-day moving average (MA) of $4.29 and subsequent resistance at its 50-day MA of $4.30.

Banro Corporation, through its subsidiary, explores and develops gold properties. The Company currently holds mining permits and mining concessions in the Democratic Republic of Congo in Africa.

Banro share prices have moved between a 52-week high of $6.05 and a 52-week low of $2.81 and are now trading 7% above that low price at $3.00 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 1.9% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Banro on November 15th, 2012 by issuing a Downtrend alert when the shares were trading at $3.73. Since that call, shares of Banro have fallen 15.3%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Write to Chip Brian at --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at:

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