Stock in Focus: Metrobank (MBT)

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Metropolitan Bank and Trust Company or Metrobank (stock symbol: MBT) displayed somewhat similar price action to EDC, except that the former created a lower swing low  (LSL) while EDC created a higher swing low (HSL) in mid-December (see here). MBT’s bounce from the 70 area has reached 75 so far. This stock now has to tackle resistance at 80 ahead of tougher resistance at 90. Before anything, 70-75 must hold first.

The Money Flow Index (MFI) indicator is threatening to break north of 50 if price will continue to move higher.

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MBT Daily chart, December 26

MBT Daily chart, December 26

 

 

 

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