Ho Bee

Ho Be has held up well:

• Still (mostly) above MAs despite the Jan correction.
• Not badly affected by Friday's anti speculative measurement announcement.

Next resistance is at 1.90 (top of triangle) followed by 2.24 (2007 highs):


What prevents me from taking a position?

• uncertain market direction
• wait for a breakout from triangle (blue line resistance).
• Would be nice to see a lower MACD-H form as it retests 1.59 sppt.... could I buy on support then? Maybe...only if market direction becomes clearer.

Note the pullbacks in previous breakouts (Nov/Dec). Would I count on this again? Probably not. But don't get scared out of the position if I take it.