FrancescoChiappe

HMC - BUY IF CROSSES 31.50

Long
FrancescoChiappe Updated   
NYSE:HMC   Honda Motor Company, Ltd.
If earnings allow it and price crosses 31.50, buy.
Technical:
- Has formed a triangle: breakout expected
- Reached ceiling of 2 year downtrend channel
- Already broke first 3 fib levels
- If crosses 31.50 will break into 0.382 level
- Hovering on buy zone
- RSI = GOOD
- Last 3 recent highs above one another
Fundamental:
- Building momentum on earnings
- Current share price way below future cash flow value
- Sales reports on December outstanding
- Higher producing, strong domestic market
- Japanese company not affected by rallies, protests, etc




Comment:
Not able to surpass fib level, stop loss triggered. Lack of buyers to push price.

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