Company: Metro Retail Stores Group Inc.
Support: 1.61 / 1.57
Resistance: 1.68 / 1.80
MRSGI was able to climb back up from its Mar lows, and notably encountered a sudden price jump on the latter part of Nov after trading sideways since Aug until Oct. Last Friday, the stock got traded relatively thinly despite the +2.48%(+.04pts) upswing causing MRSGI to close at 1.65.
Technical indicators have mixed views towards MRSGI. MACD is bearish, while both RSI and DMI are bullish albeit weakening. Support is cemented at 1.61 and resistance found at 1.68, which is also the stock’s MA260.
The bulls might find its way back to the stock on breakout.
Buy on breakout