Wednesday, December 15, 2010

Metropolitan Bank and Trust Com. (MBT)

MBT Daily chart




Breakdown from 2 major support levels at 68.50 and 75.50, head and shoulder neckline breakdown at 68.50 pointing at 54-58 as a possible target in short/medium term.

It is also resting now at the major trend line. A breakdown from here would suggest further decline in the short/medium term, confirming the down trend up to the H&S target.

Avoid until it finds solid support.

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