Trading Signals

April 4, 2017
Metropolitan Bank and Trust Company
Bloomberg : MBT PM / Reuters: MBT.PS

Charts Speak Louder than Words

Analysis: MBT is on resistance as it bounced nicely from support at PHP75.00.

Trading Plan: Buy on a breakout on big volume. Keep stops tight just to be safe. Resistance
levels are at PHP81.75 and PHP83.00 while support levels are at PHP80.00 and PHP75.00.

Minutes of the Morning Meeting

The PSEi ended just below its 7,350 resistance w/ foreign inflows, and may continue testing it today,
depending of the results of the PH CPI for March (3.4% est. & 3.3% prior). The 3 major US indexes
started in the green but were dragged by auto cos. into negative territory by mid-morning after auto
sales for March missed expectations.

US ECO DATA:
*Total vehicle sales: 16.63M (vs. 17.30M est).
*ISM Mfg. PMI: 57.2 for March (vs. 57.2 est. & 57.7 in Feb).
*Markt Mfg. PMI: 53.3 for March (vs. 53.5 est).

FirstMetroSec research is available through Bloomberg.

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PSEi Technical Analysis ANALYSIS:

SUPPORT: 7,150-7,239 RESISTANCE: 7,350-7,400

The PSEi ended the session just below its 7,350

resistance (R1), and would need to break
above it and its higher resistance at 7,400 (R2)
in order for it to reverse into an uptrend.
MACD momentum would also need to in-
crease to confirm strength.
Note that failure to break above resistance
would lead to a continuation of its range and a
re-test of its short term supports at 7,200 to
7,239 (S1).

TRADING PLAN:
Continue trading the range if its supports &
resistances continue to hold.

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