Stock: MPI
Company: Metro Pacific Investments Corp.
Support: 3.74
Resistance: 3.95


MPI finished Tuesday’s trading with a spinning top pattern, which is typically interpreted as a sign of indecision among investors.

However, when it comes to indicators, the picture looks more clearly bearish. MPI is in a sustained downtrend, and is trading under its MA50 of 4.15. MACD also shows continuing downward momentum, while selling pressure remains high.

The stock is just above its support at 3.74, however, so the downward movement would likely occur slowly, just as today’s movement was incremental.

Recommendation

Hold

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