DBS keeps breaking down in small steps...

DBS (SGX:D05)  
Really painful to see a large (relative to Singapore) bank break down slowly like that...
Technically, it reeks of a bearish bias, but is not advancing with commitment. Instead is slowly breaking down the supports, from the trendline to the widening wedge , and yesterday, a critical level to close at a lower low (after a lower high weeks ago).

It is possible for a short bounce to 20.80 now, but downside bias remains, probably to continue after a bit of consolidation, if at all.

As DBS is a main component of the Strats Times Index, STI , there is correlation in the apparent weakness.
Comment: Market opened just after I posted, and a 3% drop for the morning was registered.
This came after news set in that regulators have limited the dividend yield for SG bassed banks.

Now, we see some decent technical commitment!


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out