DBS has been lackluster for the last few session and even though it broke the support of around $30.50 it didn’t follow through to go lower but fought hard to make a come back. This is why DBS is now on our radar.
- DBS is finally above the 5ema, we can see that the 5ema has been resisting it and after today, it has finally broken above.
- DBS at current price has a dividend yield of around 4%. Not the best , but not bad either plus it has potential for capital gains too!
- It has broken above the downtrend line we have drawn and overcome the $31 resistance too!
- Indicators are pointing to an oversold condition for DBS.
So with these points, we might see some rebound in DBS in the days to come.
Keeping a close eye on it.
Kelwin & Roy