Stock: MBT
Company: Metropolitan Bank and Trust Company
Support: 47.50 / 46.87
Resistance: 49.00


After the substantial gap down last Tuesday, wherein MBT landed below its 50-d MA, the stock has consolidated in a narrow range of 47.50 and 49.00.

The indicators are uniformly bearish, but the momentum is relatively weak. To wit, the ADX is on a downtrend, while the MACD histograms are almost flat. The gap between the -DI and +DI is narrowing. The RSI is in the selling territories as well, with a slight downward bias.

MBT will likely continue trading sideways-to-down at least for the rest of the week, given the selling pressure.

Recommendation

Hold

LEAVE A REPLY

Please enter your comment!
Please enter your name here