dchua1969

Hard habits to break

Long
NASDAQ:TCOM   Trip.com Group Limited
Read this articles here, here and here

You see, habits once formed is hard to break. There were write up that says the consumer buying behaviour will not be the same post Covid-19. I tend to digress from personal experience and observation. When I was working in China a decade ago, I had to give up the Singapore flavour coffee as there were none there. Starbucks and Coffeebean were popular but they were expensive and they are not really for coffee drinkers (you may argue on that point, its ok)

I was not too surprised when I returned years later, I could pick up the habit of drinking local coffee like a fish to its water, naturally without much hesitation .The years of suppression did not change my habits at all, they were merely tuck away somewhere till the right time comes along.

So, you can see from above articles, travelling brings about a lot of benefits to people. Some find it a great way to distress, to know new friends, to get more business, to tick off the bucket list and so on..........

Those airlines and cruise ships that can survive post Covid-19 will continue to see their business coming in, maybe not in big waves like before but the attraction will still be there.

This period of staying at home, probably doing repetitive tasks over and over again have make many going bonkers and yearn to get out as soon as possible. Thus, they decide to take a risks and get out during the Easter holidays. Were they doing the society a favour by not keeping the social distance ? I leave that to your judgement.

One particular counter that I have been watching for a while is TRIP.COM. The local chinese are starting to go out again within China . Read latest article here

From the chart, we can see the price action has break out from the bearish trend line and is now consolidating. Once the price breaks out from the rectangle pattern, it should goes higher. There lies a possibility for another leg down which is good because I can grab it at cheaper price.

Comment: support at 23.02. The pent up demand for domestic travel should see some increase as China is reopening its lock down cities.
Comment: https://www.scmp.com/news/china/society/...

It takes time for people to get back to their pre Covid 19 days. Once the mood is in and no new cases or clusters found especially during this travel season.
Comment: take note, the price action has move into the upper half of the rectangle, a cautiously bullish signal, a bottom HH formed.Again, it is hit with the resistance at 25.16 but once it breaks out, that would be good news. Await patiently as it is possible for this consolidation to play out for a while longer.
Comment: see the two pin bar at the end of the box and down it comes with another bearish candle. Ooh.....watch 23.06 support next week
Comment: 25.10 resistance area proves to be a challenging zone to clear. But, once it is done, see 29 May candle, it shoots up.....
Comment: Praise the lord

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