Chart source: Poemsview 9th May 2018
DBS had a good run after reporting a good set of results at the end of April. DBS and the two other banks UOB and OCBC being part of the STI component have been the main driver responsible for our STI to move up.
Now that results are out and dividends are given. What other catalyst could DBS have? Some weakness could be seen after DBS gone XD and we are now closely watching the 50 days moving average to see if the price can hold.
There is also a horizontal support so some confluence of support at around $28.51 area. So a break below this area might see DBS heading down in the coming weeks.
Keeping a close eye on it and our targets are drawn.
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