DBS with strong fundamental and liquidity seems to be ignoring the usual local "must-buy" recommendation as selling pressure remains high.
This Stock has a high correlation with STI, as both heads towards a level where market seems to be able to break.
A "short" position seems to hold a higher winning probability than a "long" one
Also, i'm writing at ...
DBS is very weak now. Having bounced off 25 twice in recent time, it failed to make higher highs, failed the 55EMA, and is likely to revisit 25.
MACD supportive of bearish bias.
Going for a bounce at 24.50, and to consolidate at 24 for deliberation of a possible major rally to 40.
See chart
Other than it is a Temasek backed bank, it is also one of the best managed bank in Asia. It has now broken out of the bearish trend line. Let's wait for the pullback and get ready to ride high with it.
View On DBS (24 May 2019)
We were in the fast and furious pull back mode in the recent week.
Now, it has approached some decent support levels. It may take some time to around but as long as it is above the price level of $24, we shall see the rise up on the price again..
DYODD, all the best and read the disclaimer too.
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HK has bad PR and it has problems getting this better.
The main beneficiary of shis will be Singapore.
My idea is to invest in the banking sector. Let's see how it develops
If all new are neutral and base from other years history. It should be good in this world's #1 digibank .
Just following a trend and past years graphing. 30+ by end of year.
Trade safely.
:)
After a period of consolidation at $24.30 level, DBS has moved further in line with the bullish sentiment. Price has closed above both the 50D and 200D MA which spells potential further up-move ahead. It is currently sitting at prior support turned resistance zone. Should price stay above $25.19, we can see the next target at $26.06 before the next level of...
View On DBS (14 Feb 2019)
We have been busy since last Jan on DBS and Bank stocks are in demand right now.
The shall rise up higher.
The first easy tgt is $25.10.
DYODD, all the best and read the disclaimer too.
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currently, DBS sits nicely in a consolidation range. I would expect the pair to drive further up if the US-China Trade war subsides and would enter on a breakout above the current range.
Over the last few weeks, we've seen buyers coming in and some reversal price actions have been playing out pretty well. Unfortunately, for the past week we've seen some fierce selling coming back again with the breakdown below $24 which can see further selling pressure to bring DBS down again to $23 where we can expect to see short covering.
During this correction, volumes were low meaning the stocks were passed from the weak mental strength herd to the hands of the smart monies. In the comparison analysis, DBS outperformed the benchmark financial index, refusing any whipsaw along the way. ODBS only gently touched the 200EMA showing why it had been the strongest bank among the 3 local banks in...
