Stock in Focus: Metrobank (MBT)

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The stock of financial firm Metropolitan Bank and Trust Company (stock symbol: MBT) has gone above the critical 80 level since  my last post, and this level still proves sticky until this day. Price has stayed just above 80 for 10 straight days now.

Philippine Stock Exchange_MBT Daily chart, March 3, 2014

MBT Daily chart, March 3, 2014

 

An ascending trendline is forming and nicely intersects the 80 level. A break of 80 and (incomplete) trendline would reignite MBT’s 70-80 range or even threaten a downside break of this range. The multi-quarter double bottom just below 70 was set on December and January. Resistance. meanwhile, lies at 90-95.

The MACD Oscillator (MACD-O) is close to breaking the zero level to the downside.

Do you have MBT in your portfolio? Share your thoughts below!

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