MBT Technical Analysis: Will We See This Stock Above ₱72.00 This October?

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Metropolitan Bank & Trust Company (PSE:MBT) is priced at ₱71 per share, down by 0.84 percent, as of 03:30 PM GMT+8 on October 24, 2019.

The Total Turnover Value is at ₱107,687,997.00. The foreign traders are the main drivers of MBT today.

Metropolitan Bank & Trust Company (MBT) - Daily Chart EOD - 10.24.2019

Foreign investors registered a Net Foreign Selling worth ₱31,062,341.00. They are net sellers year-to-date.

The immediate support is near ₱65.95, while the immediate resistance is near ₱72.00.

My 10SMA-MACD combo is bullish.

MBT’s risk level is low due to its historical volatility score of 21.33 percent. For new traders, I advise that you prioritize checking those stocks that have a low to moderate risk level.

Trade-Volume Distribution Analysis

Last Price: 71
VWAP: 71.222692
Most Traded: 71.35 – 71.3
Most Voluminous: 71.35 – 71.3

Metropolitan Bank & Trust Company (MBT) - Trade Volume Distribution EOD - 10.24.2019

The Momentum Power Indicator of MBT is bearish because all 4 of 4 elements are bearish. The downward movement of the price is more than likely to continue as of the time of writing this analysis.

True Market Sentiment Analysis EOD

True Market Sentiment on MBT as of Oct-24-2019 at 03:30PM, with a last price of 71.00.
True Market Sentiment: BULLISH
6 of the top 10 brokers registered a positive Net Amount
6 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 71.2433
Top 10 Players’ Selling Average: 71.2585
Bonus Info:
24 out of 56 participants or 42.86% of all participants registered a 100% BUYING activity
11 out of 56 participants or 19.64% of all participants registered a 100% SELLING activity

Metropolitan Bank & Trust Company (MBT) - True Market Sentiment EOD - 10.24.2019

The majority of the top 10 brokers are bullish on MBT.

True Market Sentiment Analysis MTD

True Market Sentiment on MBT from Oct-01-2019 to Oct-24-2019 at 03:30PM, with a last price of 71.00.
True Market Sentiment: NEUTRAL
5 of the top 10 brokers registered a positive Net Amount
5 of the top 10 brokers registered a higher Buying Average than Selling Average
Top 10 Players’ Buying Average: 68.7759
Top 10 Players’ Selling Average: 68.6454
Bonus Info:
23 out of 110 participants or 20.91% of all participants registered a 100% BUYING activity
4 out of 110 participants or 3.64% of all participants registered a 100% SELLING activity

Metropolitan Bank & Trust Company (MBT) - True Market Sentiment MTD - 10.24.2019

As far as my Evergreen Strategy is concerned, it’s a confirmed buy signal if the 10SMA-MACD and the Momentum Power Indicator are both bullish. The opposite is true if the 10SMA-MACD and Momentum Power Indicator are both bearish.

Have you already watched the video-on-demand version of my Evergreen Strategy in Trading and Investing in the Philippine Stock Market? I discussed in that video how I find the best candidate stocks for your watchlist, how to know the true market sentiment, how to know if the trend is more than likely to continue, how to find confirmed buy signals, how to find the best price range where I buy, and how I sell more logically and less emotionally.

After watching the video, you will know how to analyze exactly how I analyze. Click here for more information.

Recommendations

If you are holding MBT because your trailing stop has not been hit yet, I suggest that you either hold your position (do nothing, don’t top up) or you reduce the percentage of risk applied in your trailing stop. You can use this trailing stop calculator. Entertain the idea of topping up if, and only if, the 10SMACD and Momentum Power Indicator are both bullish.

The month-to-date neutral True Market Sentiment signifies a slight hesitation among the majority of the top 10 brokers to pierce the resistance at ₱72.00.

Now, if you’re planning to enter a new position on MBT, it’s best to postpone that plan. I’ll give you two reasons. Firstly, the Momentum Power Indicator is bearish. Secondly, the last price is closer to the immediate resistance than the immediate support. Do you know what that means? That means the potential risk is a lot bigger than the potential reward. It’s best for you to wait for a pullback or a breakout until your potential reward becomes larger than your potential risk. You can use this reward-to-risk ratio calculator.

Regardless whether you already have a position on this stock or you’re yet to enter a new position, it’s best that you ask for our latest analysis and recommendation in our Private Clients Forum so we can tell you if the technical buy indicators are still intact. Also, this allows us to alert of you the newest dominant range of the stock so you can buy strategically. If you’re a subscriber of Equilyst Analytics, you have an access to our Private Clients Forum. Click here to subscribe.

Jaycee De Guzman

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