Bar Chart (8 month)
Barchart (16 month)
Wyckoff Accumulation Schematic
Wyckoff Distribution Schematic
Point and Figure Chart
MET spent 2014-2015 under distribution and appears to potentially reached it peak downside. Its downside Campaign target not shown is $30. Generally, I’m pretty biased about these targets filling; however, prices look to have found support along the lower trendline of the bullish ascending channel. If you review the 8 month barchart above you’ll also appreciate that largest volume visible was selling pressure and unable to break support. This suggest bullish absorption. Prices appear to be falling on another attempt to test support and very little selling pressure has presented. This suggest that supply remains in strong hands.
The current Campaign count shown above is $88 and would result in a continuation of the bullish ascending channel. It would also become “overbought” relative to the channel and likely retreat.
This has been a difficult chart to read. If your looking for a timeframe the seasonality suggest October is a bullish month.