Here's my take on where Banro Bottoms.
We all know Insitutions have been accumulating Banro like crazy.
We know the MM's played the ETF by naked shorting ahead of Nayoma prod date, and then tanking the stock into the Index rebalance date last Friday.
This explains why there has been no filing on the 10% share purchase.
Now, we have a stock that was trading at .45 that is now at .16 due to market maker play.
With company tied to commodity price, instilling fear in retailers with gold price collapse, helps to keep the retailers at bay, while insitutions finish out their accumulation.
But when does Banro start moving up you ask?
Simple, There are only so many shares of Banro. Statistically there is a point of diminished returns with Banro's stock decline, since at some point, with institutional data being public, it becomes obvious that Banro is a steal, so more and more retailers start ignoring board bashing, and gold drop projections and start buying.
Once insitutions have fully accumulated, there is not reason for Market makers to supply shares to these retailers.
There work pushing the price down is done.
Since the board is working for these insitutions, when this tipping point is reached, they will start promoting the company, and most likely have a pipeline of good news ready to start releasing, (most likely at first in after hours) to facilitate the rapid correction of the stock back to normal valuations based on what we know.
In short, expect a 30 cent gap up within 2-3 weeks tops.
Cheers!
