i am familiar with the stock. it had become the office joke as a colleague and myself constantly commented on it. that was during the stock's hey days at the tmt boom times when it hit as i recall 245. we even intoduced a young girl to the concept that indeed the irish do grow bananas, and there ensued a scientific argument that this cannot be right due to the prevailing weather conditions...etc( i did not tell her that the waters of the irish sea are ideal for growing banans..)
the stock since those hey days bottomed up at some 45 p shortly after the tmt bubble burst, but since has been in a gentle rising trend.
currently the stock has been restrained by r120 having made two fainling attempt to breach it in the recent past, it is curently set up course for a 3rd and critical test of r120.
if this impending 3rd attemp to breach 120 is to fail then i suggest, going by the rule of 3 stikes and you are out, that the stock would spend some extended time at current levels. once again i must emphasise 'out' in this rule does not mean doomed, just delayed perhaps.
so, you should wait for the 3rd onslaught on r120. if the stock is successful, then obviously stay in. if not then it would all depend on what price you paid for it initially and how long a horizon you are taking on this stock. for a long term holder a delay of a couple of months is not critical, but the situation is different for a medium and shortish term holder.
once beyond 120, then the next port of calls are 150 and 170.
i would suggest a sell at 150 unless the stock continues to look bullish at those levels as bananas continue to be the most popular fruit in the world.
