The stock chart is moving into a bullish cross, with the 50 DMA rising to cross above the 200 DMA. With the low PE, and the soon-to-be-done deal with GE, this is a good time to buy. The stock price is poised to jump to at least $40 when the deal gets approved.
MET has a deadline to file a capitalization report with the FDIC on September 30, which is just a few days away. Anxiety over that filing may be depressing the stock price.
The 200 DMA is $34, and I expect that to be strong support. A break below $34 would be worrisome, but temporary considering the PE is absurdly low at 5.
MET has traded in a tight range $34-36 for several weeks, and that provides a base for a significant jump in the stock price, and soon I think. The drop since Monday looks like manipulation to scare folks to sell. A lot of factors make MET a buy, and if the price drops below $34 buy more as the stock will be over $40 within a few months--IMHO.
Thanks for sharing your thoughts on MET.I agree the 50 day MA is crossing the 200 day MA, but what get me worry is that the indicators like OBV, RSI(14), MCAD and Full Stochastics are all pointing down.
While I remain excited about the PE at 5, there's not too many around with that kind of PE. I am worried that MET is being manipulated somehow. Yesterday it was over 35.6, today it is down to 33.80, that down 5%. What's your thoughts about the price swing?