Metro Performance Glass (MPG.NZX)

26 March 2019

Technical Summary: The steepness of the downtrend for holders of MPG has been quite impressive as the stock has cascaded from highs of nearly $2.30 per share to lows of below 40 cents. Each time the stock has threatened to start looking oversold it has been able to find new lows. This has continued on the one year chart with the stock seeming to be consolidating earlier in the picture before a nasty series of gaps to the downside. The stock eventually found support at around $0.40 per share before bouncing. The stock now seems to be moving towards these lows again. It will be interesting to see whether the stock retests these lows and if the support will hold or if it will find its way to new lows.

Stock is looking to retest key support

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