Metro Pacific Investments Corp. (stock symbol: MPI) has been making a slow grind higher since late-January. This stock has now breached the 4.00 psychological level, ending the week above it despite the bearish close seen today.
The Moving Average Convergence Divergence (MACD) has maintained its bullish formation throughout the advance in price.
Don’t be complacent if you have this stock in your portfolio. There are lots of wood to chop towards 6.00. Price stabilized above 4.00 since my previous post (“break of 4.00″ worst case scenario did not materialize which is good news for MPI holders), so I hope that we will see continuous support around that area. If price can stay above the trendline and move through 5.00, well and good.