Banker's Petroleum (BNK:TO)

Banker's Petroleum is an oil & gas company in a high growth stage. It is largely institutionally owned and trades on strong volume consistently. This is a stock to watch as it has seen a huge run up recently. If oil prices stay stable around 60-75$, this company will make mega profits. Let's take a look at the chart.



Notice the enlarging channel define by the red lines. The volatility in this stock is huge and it appears we could see a massive correction down to the 2 dollar range, or a breakout to the upside to about 6 dollars. The pink line shows very strong support in the 1.75-1.80$ range. It would take some catastrophic turn of events to pull the stock below that range.

The pink ovals show intermediate support levels. It appears BNK:TO is entering another intermediate consolidation phase and is getting ready to shoot up to the 5$ mark very shortly. I would recommend playing this one by selling in the 4.60$ range to capture a nice 10%+ move.