Banro Pushing Against Intra-Day High
July 05, 2011 3:36 PM
Shares of Banro Corporation (AMEX: BAA) are trading higher on the session by 7.94%, at $4.08. The stock has been under accumulation for the past week and is once again pushing against its intra-day high.
Order flow looks favorable with buyers stepping higher and offers retreating; a move up to $4.20 looks very likely, perhaps by the end of the session.
Note that Banro Corporation has 0.59% short interest.
Banro Corporation is a Canada-based gold exploration company. Banro holds, through four wholly owned subsidiaries, a 100% interest in four gold properties, known as Twangiza, Namoya, Lugushwa and Kamituga. These properties are covered by a total of 13 exploitation permits and are found along the 210 kilometer-long Twangiza-Namoya gold belt in the South Kivu and Maniema Provinces of eastern Democratic Republic of the Congo.
