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Metro Pacific Investments Corporation MPI is on another breakout attempt from a Bull Flag pattern after it failed to break the immediate resistance yesterday. Projected target price of this breakout is around 7.00~7.15 area. See previous analysis if trading the prior Bullish Bat harmonic pattern and trading plan for this potential Bull Flag pattern breakout: https://psetrends.blogspot.com/2017/04/mpi-hit-another-retracement-target-and.html

Metro Pacific Investments Corporation After the recent reversal from a Bullish Bat harmonic pattern, MPI hit the second key retracement target around 6.62 (61.8%). This is a potential profit taking area for those trading the harmonic pattern. On the other hand, MPI is also on a potential breakout from a Bull Flag pattern with a projected target price around 7.00~7.15 area. See previous analysis of the Bullish Bat harmonic pattern here: https://psetrends.blogspot.com/2017/03/mpi-bullish-harmonic-pattern-update.html Trading Plan - If previously trading the Bullish Bat harmonic pattern reversal, take some profit or scale down position. Profit run the rest of the position with a trailing-stop. - Buy the Flag pattern breakout with appropriate stop-loss in case it doesn't pan out as expected.

Metro Pacific Investments Corporation MPI continues to trade within the PRZ (Potential Reversal Zone) of a Bullish Bat harmonic pattern. A test of 5.92 level or the full range of the PRZ area followed by a reversal pattern would be a good entry signal. *The PRZ area is also significant as it falls near the 10-month uptrend line of MPI. For detailed analysis and potential trading plan, please see previous post: https://psetrends.blogspot.com/2017/03/mpi-on-another-bullish-harmonic-pattern.html MPI Consensus Rating: Buy Target Price Forecast:    - TP High = 8.50    - TP Med = 7.90    - TP Low = 6.55    - Avg TP = 7.79 Updated Chart

Metro Pacific Investments Corporation MPI is potentially forming again a Bullish Bat Harmonic pattern and the recent price is now on the potential reversal zone or PRZ (5.87~6.15 range). Trading Plan - Monitor for reversal pattern within the PRZ. - Buy the reversal pattern confirmation. - For a high risk trade, buy the dips within the PRZ area and set stop-loss on breakdown from 5.76.

Metro Pacific Investments Corporation MPI is consolidating in a bullish  Flag pattern, a trend continuation pattern. - Consolidation may likely continue with downside risk towards 6.40 ~ 6.60 range in the near term. - Resistance area is around the recent 78.6% retracement (7.10) after the reversal from a Bullish Bat. Harmonic pattern. Trading Plan - Buy the breakout. - Also a potential position play if it dips towards 5.80~6.20 area.