Monday, February 22, 2010

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.

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