Metropolitan Bank and Trust Com. (MBT)

MBT bounced from its major uptrend line invalidating the target of the reversed head and shoulder pattern when it broke down.

Best case scenario is that it retraces and finds support somewhere at 68 levels, forming a new high low to resume its uptrend.

However, it could also range trade within 68-73 in the meantime.

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.