Metro Bank Plc price analysis: MTRO jumps upwards!

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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.

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