MPI - Tomorrow is a Do or Die 06/13/2011
MPI - Metro Pacific Investment Corporation plunged 4.01% today due to so many bad news in US and Europe. What is clear right now is we are really affected by what is happening through out the world.
But what the chart tells us. It is now clearer MPI is trying to form a "Symmetrical Triangle" both for short term resistance. The good thing is, if the market will close tomorrow either green or flat, we can expect a short term rally due to candle stick bullish indicator. RSI is also very oversold at 40.77.
The bad thing is if the bearishness continue, there will be a breakdown and the price might return to 3.2 level. I'm not sure with the time line but what I can say is there are still Hope, and Tomorrow is a Do or Die.