MBT: Breakout from Inverted H&S and 11-month downtrend line

Metropolitan Bank & Trust Company

MBT is currently on a breakout from two bullish patterns with one measured target range already hit.

1. Breakout from Inverse Head-and-Shoulder pattern with projected TP = 90~92.
2. Breakout from its 11-month downtrend line with measured TP around 80~81.

*RSI at overbought territory.

*Immediate resistance area at 86~87.5.

Trading Plan

- If trading the 11-month downtrend line breakout, take some profit or scale down position and profit run the rest with trailing stop or break-even stop.

- If trading the Inverse H&S pattern breakout, set TP around 90~92. Adjust stop-loss to at least break even point.