By: Scott Redler

The European Banks could be on the mend. We have been accumulating IRE for a potential breakout and now the stock sits in a nice high level consolidation. the pattern looks like a nice bull flag type. Shares have held up well while the banks got pressured through the Goldman Sach’s news.

I will add to my position if we trade through and hold $9.90-$10.00 on big volume. The first quick move could take stock to the $10.74-$11 area. The longer term trade can take this stock back to the $14-$15 Zone later this year.

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