In Retrospect : MBT, LND

MBT

The stock went below 58 on the first day of trading but was able to close at 58, which suggests that 58 is a strong support. Resistance was encountered at 62, the previous high. Currently, the MACD is showing a good sign. Next resistance is at 63.50. If 62 would prove to be a strong resistance, there is a possibility that the stock may move sideways. A small ascending triangle is currently emerging from the price movement with resistance at 62. So the patterns to watch out for this stock are a big symmetrical triangle and a small ascending triangle.

LND

Price breached the 65 day MA on 3 days and MACD, which earlier looked as if a crossover will happen, has started to open downwards. The right shoulder hasn’t formed yet, but it looks like its starting to give a bearish outlook.