FLi and MBt

FLI and MBT are in short term downtrend, yet these are some of the big trading stocks which moves fast and came down to around 10% since last week.



FLI is short term downtrend, with a strong support around 1.29-1.31, this is a good support on a declining wedge pattern, breakdown of its 1.29-1.31 support can make fli go down to 1.20s. Breakout of its 1.40 range may seek to its 52 week high of 1.49.

This is the one i tried shorting out from its 1.37 high, but made out for a few minutes to its 1.41 highs last week. Today, i reentered some of the portfolio with entry price of 1.31




MBT is one of the fast moving stocks. Sad to say but when it hit its 75.xx high last week also, furious selling pressure was seen making it close 72.xx for the end of 2010. Today , MBT lost another few sets of %, yet looks interesting to me as it goes down close to its uptrend support.

Short term downtrend may lead us to 65, and strong selling pressure could breakdown our medium term supports that may lead MBT to 60.

I sold all of my MBT in the 75.xx, and still sees MBT a good fundamental and technical stock, 60-65 is a good entry point for the possible coming correction.