In the recent weeks, second-liner property development stocks have been showing some “signs of life” after being in the doldrums for the past three months.One of them is Ho Bee. Its 20 and 50-day moving averages have started to trend upwards and the Stochastic oscillator is inching up to test the 80% overbought level. Thus readings from these indicators suggest that conditions have turned bullish and upside momentum is building up. On the upside, be on the lookout for its immediate resistance at $1.59 and a break above it may open up scope for rally towards the next resistance barrier at $1.73-$1.77. However a break below its immediate support at $1.48 may negate the bullish tone to see a correction to test the next stronger classical support at $1.40.