Stock in Focus: Metro Pacific Investments (MPI)

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Metro Pacific Investments Corp. (stock symbol: MPI) broke new ground in mid-December after trading below 5.00 for more than two months.

The TRIX Index could be lagging as it is still pointing downward while price already showed some signs of life. We will see if price will continue to ease with it.

TP’s advice: Avoid this stock for now. 4.50 is the short-term line in the sand, with 5.00 as short-term resistance and 4.00 as short-term support. Current bias is still down.

(Click here to view the original image)

MPI Daily chart, January 3, 2014

MPI Daily chart, January 3, 2014



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