Stock: MBT
Company: Metropolitan Bank and Trust Company
Support: 47.35 / 44.50
Resistance: 49.80 / 51.75


After a six-day downturn that saw the stock get dragged below its key short- and long-term MAs, and pulled the indicators close to oversold territories, MBT was able to recover strongly. There was a slight gap up last Friday, which propelled MBT towards an immediate resistance of 49.80.

The indicators are currently mixed, though. The RSI is in the buying region with some upward bias. The DMIs are poised to cross over bullishly, while the momentum is flattish. On the other hand, the MACD is still showing sell signs.

MBT may be able to sustain its uptrend in the near-term. There is a strong resistance at 51.75.

Recommendation

Buy on breakout.

2 COMMENTS

  1. I truly like the fresh perpective you did on the issue. Truly was not expecting that when I started off studying. Your concepts were simple to understand that I wondered why I never looked at it prior to. Glad to know that theres an individual out there that definitely understands what hes discussing. Great job

  2. I have been checking out some of your articles and i must say pretty clever stuff. I will make sure to bookmark your website.

LEAVE A REPLY

Please enter your comment!
Please enter your name here