MBT (Chart: Daily Resistance: 62-64 Support: 58/55)
MBT seems to be forming a symmetrical triangle, but at this point it is still too early to confirm this. It may take 1-2 weeks to further confirm the pattern. Currently 58 seems to be a strong support during the last 3 consecutive trading days, though the bears were successful at preventing the price to go up, it could also be deduced, that they were not successful at pushing the price below 58. The 58 level is also the 65 day MA. Recommendation: This stock is eligible for range trading. Buy at 58 sell at 62. Watch out though if price falls below 58, next support is 55 which is the support line since Nov 2006
LND( Chart: Daily Resistance: 0.92 Support: 0.81)LND seems to be forming a head and shoulders pattern. Left shoulder formed last Jan, head formed near end of Feb. Volume is diminishing. We just have to wait if the right shoulder will appear. The right shoulder might probably have a high of 0.92 which is the resistance formed by the gap down during the global sell off last Feb. If the price breaks out of the resistance, then H&S pattern will be invalidated. Recommendation: This can be a candidate for range trading. Buy at 0.82 and sell immediately at 0.90-0.92. Watch out for the support at 0.81, which is also the 65 day MA. If it breaks down, from support, sell immediately.
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