Ho Bee (technical)

Ho Bee: Technical Buy Call by UOB Kay Hian, with $1.70 TP and potential 14% return. Note that the stock has made higher lows, suggesting that the earlier selling pressure could be absorbed as prices have been supported by its mid Bollinger band. Immediate resistance is at S$1.50 for further upside. Watch if the MACD indicator could form a bullish crossover. Stops could be placed at below $1.40. House institutional research has a fundamental BUY with a target price of $1.86.