Technical Input MBT

Stock: MBT
Company: Metropolitan Bank and Trust Company
Support: 48.90
Resistance: 52.20


MBT closed at P51.00 after encountering resistance at P52.20.

We believe the stock will range between P48.90 gap support and P52.20 resistance in the short term

Recommendation

We recommend buying on dips near P50.20 and P48.90 with a target of P53.00 and P56.00, place a strict mental stop if the stock closes below P48.00.

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