Metro Pacific Investment (MPI) closed at Php 3.77 today when it broke out from it's resistance level of Php 3.60. This is a 5.6% gain from it's previous close of 3.57. (What is a breakout? - definition and terms http://www.investopedia.com/terms/b/breakout.asp)
The break out occurred as a result of a cup and handle and/or an ascending triangle formation that was supported with a total volume turnover of 129 million shares - a 117 million shares more than yesterday. It's worthy to note that 50 million shares alone were purchased by Macquarie, "a global provider of banking, financial, advisory, investment and funds management services with more than 70 offices in 28 countries".
If the break out holds, the new resistance level would be at Php 3.85 with the support at Php 3.61.
Metro Pacific Investments holds interests in water and sewerage utility company, Maynilad Water Services, Inc., through DMCI-MPI Water Company; toll roads through Metro Pacific Tollways Corporation and its subsidiaries, Manila North Tollways Corporation and Tollways Management Corporation; hospitals through Medical Doctors Inc. and Davao Doctors Hospital Inc., Riverside Medical Center, Inc., and East Manila Hospital Manager's Corporation; and real estate through Metro Pacific Corporation.
Disclaimer: I currently hold MPI in my portfolio (although I have sold 40% of my position as of today's close)
