DBS - BREAKDOWN & GAP DOWN Short

DBSSGX

Description

⋅ Jul 30, 2020 3:43 AM

1) This news contributed to the sell-down
bloomberg.com/news/articles/2020-07-29/singapore-asks-banks-to-restrict-their-2020-dividend-payments

2) I said previously to trade in the direction of the breakout in prices

3) Do not long until a bottom pattern has been reached, which could be as low as $13.60

Comment

⋅ Jul 30, 2020 5:33 AM

Support of $20.00 has been breached, so price may go back to test support-turned-resistance at $20.00

Trend Analysis Chart Patterns

Comments

ScottZhaoyueZhou

⋅ Jul 30, 2020 4:27 AM

13.6????? cannot be lah come on...

kaileong

⋅ Jul 30, 2020 5:09 AM

@ScottZhaoyueZhou, anything is possible in trading.

From $26 it went to $17 in a very short space of time, so just saying this could happen, not that it will surely happen

kaileong

⋅ Jul 30, 2020 4:18 AM

Hi,
Dividends of $1.32 per share per year was announced before the steep drop in the early Feb due to coronavirus.
At that time, price was $24.50
So If DBS pay $1.32 in dividends, but people only willing to pay $24.50 for it then to get 5.3% yield, then to get the same level of returns based on $0.72 per share, share price must drop to $?????

bC88_LONG

⋅ Jul 30, 2020 4:16 AM

Kaileong thanks . Question: how you determine the potential Low bottom to be 13.60 ?

kaileong

⋅ Jul 30, 2020 5:10 AM

@bC88_LONG,
Hi,
Dividends of $1.32 per share per year was announced before the steep drop in the early Feb due to coronavirus.
At that time, price was $24.50
So If DBS pay $1.32 in dividends, but people only willing to pay $24.50 for it then to get 5.3% yield, then to get the same level of returns based on $0.72 per share, share price must drop to $?????