Metro Bank Plc shares (LSE:MTRO) have jumped upwards, looking to move further northwards. There is a strong buying pressure in the market, which would propel the market further north.
The market was bearish from July to the end of October 2020. As from November,
a bullish movement started and it has been in play till now... Resulting in a
huge jump as recalcitrant resistance levels are violated.
The ADX period 14 is close to the level 40, showing a significant
momentum in the market. The DM+ is above the DM-, signifying bulls’ supremacy.
The MACD default parameters, has both its signal lines and histogram above the
zero line (histogram just crossed the zero line to the upside).
There is a Bullish Confirmation Pattern in the market, and MTRO can go
beyond the resistance levels of 150.00, 160.00 and 170.00 in the year 2021.
Azeez Mustapha
Market Analyst, Trading Signals Provider and Coach
Teach Yourself Technical Analysis: Teach Yourself
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