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Financial Crisis On The Horizon? MBIA Inc. Chart Is Scary

Could there be another financial crisis on the horizon? Shares of MBIA Inc. (NYSE:MBI) have a nasty setup that signals a downside move from its current $8.03 to $4.50. If it goes to $4.50, there are major problems in the economy and the financial system. The stock chart pattern is a head and shoulders. This is a well known technical pattern that is extremely bearish. Once it breaks the trend line shown in the stock chart below, watch out! It will likely head quickly to that $4.50 target price.

Bearish stock chart on MBIA Inc. signals financial collapse